On January 1, 2017, Day Co. paid $103,288 for $100,000 face amount 10% bonds, a...
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Accounting
On January 1, 2017, Day Co. paid $103,288 for $100,000 face amount 10% bonds, a price that yields 8%. Interest is payable every July 1 and January 1. Interest revenue for the year ended December 31, 2017, using the effective interest method should be approximately:
Select one:
a. $10,329
b. $8,263
c. $8,228
d. $8,000
e. $10,000
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