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February 1, 20x2, Patey Pontoons issued 11% 10-year bonds with a face value of $750,000 for $750,000 cash. Interest will be id semiannually on June 30 and December 31. hat is the amount of accrued interest payable that Patey should report on its September 30, 20x2, balance sheet? Multiple Chriss

February 1, 20x2, Patey Pontoons issued 11% 10-year bonds with a face value of $750,000 for $750,000 cash. Interest will be id semiannually on June 30 and December 31. hat is the amount of accrued interest payable that Patey should report on its September 30, 20x2, balance sheet? Multiple Chriss

FINANCIAL ACCOUNTING
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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Multiple Choice On February 1, 20x2, Patey Pontoons issued 11% 10-year bonds with a face value of $750,000 for $750,000 cash. Interest will be baid semiannually on June 30 and December 31. What is the amount of accrued interest payable that Patey should report on its September 30, 20x2, balance sheet? $61,875. $20,625. H a < Prev 11 of 24 B T SAMSUNG Next Help D Save & Exit ENG S
Transcribed Image Text:Multiple Choice On February 1, 20x2, Patey Pontoons issued 11% 10-year bonds with a face value of $750,000 for $750,000 cash. Interest will be baid semiannually on June 30 and December 31. What is the amount of accrued interest payable that Patey should report on its September 30, 20x2, balance sheet? $61,875. $20,625. H a < Prev 11 of 24 B T SAMSUNG Next Help D Save & Exit ENG S
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