On November 1,2017,Archangel Services issued $302,000 of eight-year bonds with a stated rate of 10% 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? (Do not round any intermediate calculations,and round your final answer to the nearest dollar. )
A) $30,200
B) $5,033
C) $15,100
D) $629
Correct Answer:
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