McMillan Corporation issued $150,000, 12%, fifteen-year bonds on January 1, 2019, for $201,876 when the market interest...

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McMillan Corporation issued $150,000, 12%, fifteen-year bonds on January 1, 2019, for $201,876 when the market interest rate

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Answer 1

Answer #1

Total bond interest expense = Issue price*Market interest rate

= 201876*8%*6/12

Total bond interest expense (July 1,2019) = 8075

So answer is d) $8075

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Answer 2

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McMillan Corporation issued $150,000, 12%, fifteen-year bonds on January 1, 2019, for $201,876 when the market interest...

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McMillan Corporation issued $150,000, 12%, fifteen-year bonds on January 1, 2019, for $201,876 when the market interest...

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McMillan Corporation issued $150,000, 12%, fifteen-year bonds on January 1, 2019, for $201,876 when the market interest...