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Legion records interest at the effective rate legion should

Question - On January 1, 2016, Legion Company sold $200,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $177,000, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2016, in the amount of:

A. $8,850.

B. $10,000.

C. $10,620.

D. $12,000.

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Accounting Basics: Legion records interest at the effective rate legion should

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