On November 1, 2014, Archangel Services issued $300,000 of 5-year bonds with a stated rate of 10%. The bonds were sold at par, and Archangel makes semiannual payments on April 30 and October 31. At December 31, 2014, Archangel made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2015, when the first payment was sent out. How much interest expense was recorded for the period of January 1 to April 30, 2015?

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The Answer of On November 1, 2014, Archangel Services issued $300,000 of 5-year bonds with a stated rate of 10%. The bonds were sold at par, and Archangel makes semiannual payments on April 30 and October 31. At December 31, 2014, Archangel made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2015, when the first payment was sent out. How much interest expense was recorded for the period of January 1 to April 30, 2015?

On November 1, 2014, Archangel Services Issued $300,000 of 5-Year