Question: please show work mcintarfer corporation issued 200000 of 8 15year...
(Please show work)
Mcintarfer Corporation issued $200,000 of 8%, 15-year bonds payable on January 1, 2019. The market interest rate when the bonds were issued was 11%. Interest is paid semiannually on January 1 and July 1. The first interest payment is July 1, 2019. Using the effective-interest amortization method, how much interest expense will Mcintarfer record on July 1, 2019? Use Excel® to calculate the issue price.