Solved: Interest is payable semiannually on january 1 and july 1, Accounting Basics

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Interest is payable semiannually on january 1 and july 1

Question - On January 1, 2018, Huff Co. sold $5,000,000 of its 10% bonds for $4,426,480 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Huff report as interest expense for the twelve months ended December 31, 2018?

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Accounting Basics: Interest is payable semiannually on january 1 and july 1

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