On June 30, 2024, LN Bean issued $25 million of its 8% bonds for $23 million. The bonds were priced to yield 10% Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2024? Multiple Choice $1.150.000 $1.207500 $1293 750

On June 30, 2024, LN Bean issued $25 million of its 8% bonds for $23 million. The bonds were priced to yield 10% Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2024? Multiple Choice $1.150.000 $1.207500 $1293 750

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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