How much interest expense reported in income statement, Accounting Basics

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How much interest expense reported in income statement

Cramer company sold 5 year 8% bonds on october 1, 2011. the face amount of the bons was $100,000 while the issue price was $102,000. 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, 2011 income statement?

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Accounting Basics: How much interest expense reported in income statement

Reference No:- TGS054169

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Recent Questions Asked Accounting Basics

Q : Calculating the stock value per share

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much interest expense reported in income statement

Reference No:- TGS054169

Recent Questions Asked Accounting Basics

Q : Calculating the stock value per share

Q : Presuming adequate income

Q : Find the bond equivalent yield

Q : Find the bond price-coupon

Q : How much interest expense reported in income statement

Q : Fund expect to receive-free income

Q : Index futures and options

Q : Calculating the mirr of better project

Q : Prepare the journal entries to record $68,000 expenditure

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