On january 1 2010 gore co. sold to cey corp. 400000 of its, Ask an Expert

Accounting

On January 1, 2010, Gore Co. sold to Cey Corp. $400,000 of its 10% bonds for $354,118 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as interest expense for the six months ended June 30, 2010?

a. $17,706

b. $20,000

c. $21,247

d. $24,000

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