Calculating the accrued bond interest payable, Financial Accounting

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Calculating the accrued bond interest payable

Response to the following problem:

Hillside Hospital issued $300,000 of 6 percent, 15-year bonds at face value on April 1, 20X1. These bonds pay interest semiannually on April 1 and October 1, commencing October 1, 20X1. The hospital's fiscal year ends December 31. What amounts should be reported in the hospital's adjusted trial balance at November 30, 20X1, for bond interest expense and accrued bond interest payable?

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Financial Accounting: Calculating the accrued bond interest payable

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