Solved: On january 1 2013 jennings inc issued 400000 10-year how, Accounting Basics

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On january 1 2013 jennings inc issued 400000 10-year how

Question - On January 1, 2013, Jennings, Inc. issued $400,000, 10-year, 10% bonds for $360,000. The bonds pay interest on June 30 and December 31. The market rate is 10%. How much is the interest expense on the bonds for the first interest payment on June 30, 2013?

A. $18,000

B. $36,000

C. $43,200

D. $21,600

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Accounting Basics: On january 1 2013 jennings inc issued 400000 10-year how

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