On October 1 of the current year a corporation issued (sold) $1,000,000 of its 12% bonds at par plus accrued interest. The bonds were dated July 1 of this year. What amount of bond interest expense should the company report on its current year income statement?

Question

Quizplus · Accepted Answer

The Answer of On October 1 of the current year a corporation issued (sold) $1,000,000 of its 12% bonds at par plus accrued interest. The bonds were dated July 1 of this year. What amount of bond interest expense should the company report on its current year income statement?

On October 1 of the Current Year a Corporation Issued