Discuss the interest expense that coley company will show, Accounting Basics

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Discuss the interest expense that coley company will show

Coley Co. issued $3 million face amount of 7%, 10-year bonds on June 1, 2010. The bonds pay interest on an annual basis on May 31 each year.

Calculate the interest expense that Coley Co. will show with respect to these bonds in its income statement for the fiscal year ended September 30, 2010, assuming that the discount of $36,000 is amortized on a straight-line basis.

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Accounting Basics: Discuss the interest expense that coley company will show

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Accounting Basics: Discuss the interest expense that coley company will show

Reference No:- TGS0707849

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Recent Questions Asked Accounting Basics

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Accounting Basics: Discuss the interest expense that coley company will show

Reference No:- TGS0707849

Recent Questions Asked Accounting Basics

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