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. $8,850B. $10,000C. $10,620D. $12,000
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On January 1, 2016, Legion Company sold $200,000 of 10% ten-year bonds. Interest is payable semiannu...
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