On november 1 2015 archangel services issued 200000 of, Ask an Expert

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On November 1, 2015, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000, and make semiannual payments on April 30 and October 31. At December 31, 2015, Archangel made an adjusting entry to accrue interest at year end. No further entries were made until April 30, 2016 when the first interest payment was made. How much interest expense will be recorded for the period of January through April, 2016?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9411584

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