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What is the amount of interest expense

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Question: On November 1, 2017, Archangel Services issued $302,000 of eight-year bonds with a stated rate of 10% at par. Interest payments occur each April 30 and October 31. On December 31, 2017, Archangel made an adjusting entry to accrue interest at year-end. What is the amount of Interest Expense that will be recorded on December 31, 2017? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)

A. $30,200

B. $15,100

C. $629

D. $5,033

Reference no: EM131740886

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