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29-07-2022
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The Levi Company issued $200,000 of 12% bonds on January 1 of the current year at face value. The bonds pay interest semiannually on June 30 and December 31. The bonds are dated January 1, and mature in five years, on January 1. The total interest expense related to these bonds for the current year ending on December 31 is

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05-08-2022

24000, The total interest expense related to these bonds for the current year ending on December 31 is 24000 (12% of 200000)

More about bond interest expense:

Bond interest expense is the total amount of interest paid on the payable bonds of an organization during a reporting period. This cost includes the amortization of any premium or discount on bonds that were issued for the reporting period and based on the cost at which investors purchased them.

It should be rather simple to figure out the interest expense on a payable bond, but then the accountants got involved. Generally Accepted Accounting Principles, or GAAP, make what would normally be a straightforward multiplication problem a little bit more challenging.

Learn more about interest expense here: https://brainly.com/question/17031556

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