What amount of interest expense should be recorded


On January 1, 2010, Saldano, Inc. issued $50,000 of 10-year, 8% bonds for $43,800. Interest was payable semiannually. The effective yield was 10%. The effective interest method of discount amortization was used. What amount of interest expense should be recorded for the six-month period ending December 31, 2010?

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Accounting Basics: What amount of interest expense should be recorded
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