On January 1, 2021, Lyle's Limeade issues 3%, 20-year bonds with a face amount of $78,000 for $67,331, priced to yield 4%. Interest is paid semiannually. What amount of interest expense will be recorded in the December 31, 2021, annual income statement? (Do not round your intermediate calculations. Round your final answer to nearest whole dollar amount.)
On January 1, 2021, Lyle's Limeade issues 3%, 20-year bonds with a face amount of $78,000 for $67,331, priced to yield 4%. Interest is paid semiannually. What amount of interest expense will be recorded in the December 31, 2021, annual income statement? (Do not round your intermediate calculations. Round your final answer to nearest whole dollar amount.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 8RE
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On January 1, 2021, Lyle's Limeade issues 3%, 20-year bonds with a face amount of $78,000 for $67,331, priced to yield 4%. Interest is paid semiannually.
What amount of interest expense will be recorded in the December 31, 2021, annual income statement? (Do not round your intermediate calculations. Round your final answer to nearest whole dollar amount.)
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