ginaforever33
Sep 11, 2015, 01:41 PM
At Dec. 31, 2013 bonds payable of $100,070,000 are outstanding. The bonds pay 12% interest every September 30 and mature in installments of $28,731,000 every September 30, beginning September 30, 2014.
Maturity of Bonds Payable: $28,731,000
Bonds Payable: $71,339,000
100,070,000 - 28,731,000 = 71,339,000
Interest Payable:??
$28,731,000*.12= $3,447,720
Not sure how to go about finding interest payable. Please Help.
Maturity of Bonds Payable: $28,731,000
Bonds Payable: $71,339,000
100,070,000 - 28,731,000 = 71,339,000
Interest Payable:??
$28,731,000*.12= $3,447,720
Not sure how to go about finding interest payable. Please Help.