Cramer company sold five-year 6 bonds on october 1 2016 the, Financial Accounting

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Cramer company sold five-year 6 bonds on october 1 2016 the

Cramer Company sold five-year, 6% bonds on October 1, 2016. The face amount of the bonds was $180,000, while the issue price was $190,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much interest expense will Cramer Company report in its December 31, 2016, income statement (assume straight-line amortization)?

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Financial Accounting: Cramer company sold five-year 6 bonds on october 1 2016 the

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Financial Accounting: Cramer company sold five-year 6 bonds on october 1 2016 the

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