On January 2, 2019, Skyler Company issued 1,000,000, 10-year…
On January 2, 2019, Skyler Company issued 1,000,000, 10-year bonds for $1,150,000. The bonds pay interest on June 30 and December 31. The stated rate is 10% and the market rate is 8%. The company plans to use the effective interest method of amortizing bond discounts and premiums. The interest expense on the bonds at June 30, 2019 is
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