Ask Question
13 June, 02:30

On january 1st, 2014, brenner company purchased at face value, a $1,000, 6% bond that pays interest on january 1st and july 1st. brenner company has a calendar year end. the entry for the receipt of interest on july 1st, 2014, is

+2
Answers (1)
  1. 13 June, 04:56
    0
    In this case the company purchased at face value, at $ 1,000, 6% bond that pays interest on January 1 and July 1, that is, half a year. Therefore, the correct answer in this case will be: (1,000) * (0.06) * (1/2) = $ 30
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On january 1st, 2014, brenner company purchased at face value, a $1,000, 6% bond that pays interest on january 1st and july 1st. brenner ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers