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What is the interest expense to be recorded

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Problem - Marin Co. sold $1,970,000 of 12%, 10-year bonds at 103 on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on July 1 and January 1. If Marin uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2017, and December 31, 2017. What is the interest expense to be recorded?

Reference no: EM132453864

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