Report bond interest expense, Accounting Basics

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Report bond interest expense

On January 1, 2011, Legion Company sold $210,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $137,739, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2011, in the amount of:

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Accounting Basics: Report bond interest expense

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Accounting Basics: Report bond interest expense

Reference No:- TGS058755

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Assets to individual shareholders

Q : Costs in connection with the issuance of bonds

Q : Amount of underapplied or overapplied manufacturing

Q : The amount of overhead cost

Q : Report bond interest expense

Q : Annual interest payments and amortization

Q : Amount of accrued interest payable

Q : Accounting organization and control procedures

Q : Suspect possible fraud

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Ask an Expert for Answer!!

Accounting Basics: Report bond interest expense

Reference No:- TGS058755

Recent Questions Asked Accounting Basics

Q : Assets to individual shareholders

Q : Costs in connection with the issuance of bonds

Q : Amount of underapplied or overapplied manufacturing

Q : The amount of overhead cost

Q : Report bond interest expense

Q : Annual interest payments and amortization

Q : Amount of accrued interest payable

Q : Accounting organization and control procedures

Q : Suspect possible fraud

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