Solved: Herman company received proceeds of 188500 on 10-year 8, Accounting Basics

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Herman company received proceeds of 188500 on 10-year 8

Question - Herman Company received proceeds of $188,500 on 10-year, 8% bonds issued on January 1, 2009. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31, and have a call price of 101. Herman uses the straight-line method of amortization.

What is the amount of interest Herman must pay the bondholders in 2009?

a. $15,080

b. $16,000

c. $17,150

d. $14,850

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Accounting Basics: Herman company received proceeds of 188500 on 10-year 8

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Accounting Basics: Herman company received proceeds of 188500 on 10-year 8

Reference No:- TGS02580384

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