The practice exam contains 75 questions to aid you in you final exam study prepa

Question

The practice exam contains 75 questions to aid you in you final exam study preparation. Question 4 1 pts On July 1, 2017, Jason Company purchased $60,000 of ten-year 6% bonds of Santo, Inc., for$51,850, to be held-to-maturity. Interest is payable semiannually on June 30 and December 31. The efective yield on the investment is 8%, what amount of interest income should Jason record for the six-month period ended December 31, 2017? $2,400.00 a $2,074.00 $2,084.96 $2,063.04 Next Previous Not saved Submit Quiz

Explanation / Answer

Solution: What amount of interest income should Jason record for the six-month period ended December 31' 2017: $2,074

Working: 51,850 * 6/12 *8% = $2,074

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