Prescott corporation issued ten thousand 1000 bonds on, Ask an Expert

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Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2011. They have a ten-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds.

Payment Cash Effective Decrease in Outstanding
Interest Balance Balance
11,487,747
1 400,000 344,632 55,368 11,432,379
2 400,000 342,971 57,029 11,375,350
3 400,000 341,261 58,739 11,316,611
4 400,000

What is the interest expense on the bonds in 2012?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M965817

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