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Determine the amount of interest expense

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George Gershwin Co. sold $2,072,000 of 10%, 9-year bonds at 103 on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on July 1 and January 1. If Gershwin uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2014, and December 31, 2014. (Round answer to 0 decimal places, e.g. 38,548.)

Reference no: EM131947619

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