On january 1 2016 abc co issued 2000000 8 10 year bonds, Financial Accounting

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On january 1 2016 abc co issued 2000000 8 10 year bonds

On january 1, 2016, abc co. issued $2,000,000, 8%, 10 year bonds, interest payable on june 30th and december 31st to yield 10%. The company amortizes using the straight line method. Round your answer to the nearest dollar.

1) What is the interest expense for the payment on 12/31/16?

2) What is the balance of the discount (and or premium) after the interest payment on 12/31/2016?

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Financial Accounting: On january 1 2016 abc co issued 2000000 8 10 year bonds

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Financial Accounting: On january 1 2016 abc co issued 2000000 8 10 year bonds

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