Acompany issued 100000 5-year 700 bonds and received , Financial Accounting

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Acompany issued 100000 5-year 700 bonds and received

A company issued $ 100,000 5-year, 7.00% bonds and received $ 101,137 in cash. The market rate of interest when the bonds were issued was 6.5%. What is the amount of interest expense to be recorded for the first annual interest period if the company uses the effective-interest method of amortization?

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Financial Accounting: Acompany issued 100000 5-year 700 bonds and received

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