On the first day of its fiscal year pedro dynamite co, Ask an Expert

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On the first day of its fiscal year, Pedro Dynamite Co. issued $11,000,000 of the five-year, 9% bonds, semiannually. The bonds were issued at an effective rate of 12%, and received proceeds cash of $9,785,645.

Compute the amount of the bond interest expense for the first and second year.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91347800

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