If the loan company does approve Lesley’s loan, what provision is likely to be part of the loan agreement? Lesley will have to meet with a financial adviser. Lesley will be required to submit a monthly credit report. Lesley will have to pay a higher interest rate. Lesley will default on the loan after one late payment.

At the beginning of 2014, winston corporation issued 10% bonds with a face value of $2,000,000. these bonds mature in five years, and interest is paid semiannually on june 30 and december 31. the bonds were sold for $1,852,800 to yield 12%. winston uses a calendar-year reporting period. using the effective-interest method of amortization, what amount of interest expense should be reported for 2014? (round your answer to the nearest dollar.)