I need help with a math problem

Mathematics
Tutor: None Selected Time limit: 1 Day

A corporation issues $500,000, 8%, 5-year bonds on January 1, 2014, for $479,000. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2014�s adjusting entry is

Nov 19th, 2015

Thank you for the opportunity to help you with your question!

Interest Expense to be Recognized = 500000*8% + (500000 - 479000)/5 = $44200

Thanks.


Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 19th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Nov 19th, 2015
...
Nov 19th, 2015
Dec 8th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer