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Find the interest expense recognized for the first payment

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Question - On July 1, 2019, Bartlet Corporation issues $1,200,000 of 10-year, 9% bonds dated July 1, 2019 at a price equal to 88% of face value. Bartlet uses the straight-line method of amortization. Interest is paid each July 1 and January 1. Bartlet Corporation's fiscal year end is June 30. Find the interest expense recognized for the first semiannual interest payment on January 1, 2020?

Reference no: EM132778985

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