Solved: On january 1 2016 the lourdes corporation issued 6 10-year, Accounting Basics

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On january 1 2016 the lourdes corporation issued 6 10-year

Problem

On January 1, 2016, the Lourdes Corporation issued 6%, 10-year bond with a face amount of $10 million for $93,300,00 to yield 8%. interest is p[aid semiannually. Using the effective interest method, what is the interest expense on these bonds for the half of 2016?

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Accounting Basics: On january 1 2016 the lourdes corporation issued 6 10-year

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