Awla Limited issued $1 million of 10-year, 5% bonds on January 1, 2021, when the market interest rate was 6%. Tarawa received $925,617 when selling the bonds. Interest is payable semi-annually on July 1 and January 1. Awla has a December 31 year end. What would be the amount of interest expense recorded on December 31, 2021 for the period between July 1-December 31? Question 9 options: $27,852 $27,769 $27,796 $25,000

Awla Limited issued $1 million of 10-year, 5% bonds on January 1, 2021, when the market interest rate was 6%. Tarawa received $925,617 when selling the bonds. Interest is payable semi-annually on July 1 and January 1. Awla has a December 31 year end. What would be the amount of interest expense recorded on December 31, 2021 for the period between July 1-December 31? Question 9 options: $27,852 $27,769 $27,796 $25,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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hardik
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please fill the pictures out Quatro Company Issues bonds dated January 1, 2021, with a par value of $790.000. The bonds' annual contract rate Is 9%, and Interest Is pald semiannually on June 30 and December 31. The bonds mature In three years. The annual market rate at the date of Issuance Is 8%, and the bonds are sold for $810.694. 2 How much total bond Interest expense will be recognized over the Iife of these bonds? 3. Prepare a straight-line amortization table for these bonds.
Answer isn’t 1,000,000
Please answer competely