A ten-year $8,000,000 bond is issued on January 1, 20xx with a 6% stated interest rated. Interest is paid semiannually on June 30 and December 31st. What is the amount that would be recorded as interest expense on June 30, 20xx (the first interest payment), assuming that no interest expense has been recorded since the bond was issued on January 1st? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A ten-year $8,000,000 bond is issued on January 1, 20xx with a 6% stated interest rated. Interest is paid
semiannually on June 30 and December 31st. What is the amount that would be recorded as interest expense
on June 30, 20xx (the first interest payment), assuming that no interest expense has been recorded since the
bond was issued on January 1st?
Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just
enter the raw number. Webcourses will add commas to your answer automatically. For example, if you
calculated the answer to be $24,123, you would only input: 24123
ASUS
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4
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9.
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J
K
6
5
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Transcribed Image Text:A ten-year $8,000,000 bond is issued on January 1, 20xx with a 6% stated interest rated. Interest is paid semiannually on June 30 and December 31st. What is the amount that would be recorded as interest expense on June 30, 20xx (the first interest payment), assuming that no interest expense has been recorded since the bond was issued on January 1st? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS f4 f11 f5 E3 f7 ロ/点 团 f9 f6 X f10 & 4 7 8 9. R Y G H. J K 6 5 近 图 %2
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