Collins corp. sells 400000 of bonds to private investors., Ask an Expert

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Collins Corp. sells $400,000 of bonds to private investors. The bonds are due in five years, have an 8% coupon rate, and interest is paid semiannually. The bonds were sold for $369,112 to yield 10%. What is the amount of interest expense on the first interest payment date?

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Accounting Basics, Accounting

Category:- Accounting Basics
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