What amount should simmons report as interest expense, Accounting Basics

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What amount should simmons report as interest expense

On January 1, 2014, Simmons Company sold to Flay Corporation $400,000 of its 10% bonds for $354,118 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Simmons report as interest expense for the six months ended December 31, 2014?

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Accounting Basics: What amount should simmons report as interest expense

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Recent Questions Asked Accounting Basics

Q : Contracts credited to unearned service revenues

Q : Beginning of the project

Q : Explain are there any pure-strategy nash equilibria

Q : Put-call parity theorem

Q : What amount should simmons report as interest expense

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Q : Manufacturing operations and paid shipping costs

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should simmons report as interest expense

Reference No:- TGS041190

Recent Questions Asked Accounting Basics

Q : Contracts credited to unearned service revenues

Q : Beginning of the project

Q : Explain are there any pure-strategy nash equilibria

Q : Put-call parity theorem

Q : What amount should simmons report as interest expense

Q : Inception of the lease concept

Q : Monthly mortgage payment

Q : What is marginal cost per earmuff

Q : Manufacturing operations and paid shipping costs

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