On November 1,2017,Archangel Services issued $313,000 of eight-year bonds with a stated rate of 12% at par.Interest payments occur each April 30 and October 31.On December 31,2017,Archangel made an adjusting entry to accrue interest at year-end.What is the amount of Interest Expense that will be recorded on December 31,2017?
A) $37,560
B) $6,260
C) $18,780
D) $783
Correct Answer:
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