Business, 18.12.2019 02:31, insomniacnana2

On january 1, 2018, album co. issued $200,000 of ten-year bonds. interest is payable semi-annually on june 30 and december 31. the bonds were sold for $185,953. a journal entry was prepared on june 30, the first interest payment date, to record interest expense of $13,016 and cash interest paid of $12,000. what is the annual stated interest rate for the bonds?

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On january 1, 2018, album co. issued $200,000 of ten-year bonds. interest is payable semi-annually o...