On November 1, 2014, Archangel Services Issued $300,000 of 5-Year

question 41

Multiple Choice

On November 1, 2014, Archangel Services issued $300,000 of 5-year bonds with a stated rate of 10%. The bonds were sold at par, and Archangel makes semiannual payments on April 30 and October 31. At December 31, 2014, Archangel made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2015, when the first payment was sent out. How much interest expense was recorded for the period of January 1 to April 30, 2015?

• A)$10,000
• B)$30,000
• C)$15,000
• D)$24,000

---

Definitions:

Career Construction Interview

A methodological tool used in career counseling to understand an individual's career life themes, personal goals, and coping strategies.

Favorite Television Shows

Television programs that are particularly liked or preferred by individuals, often watched regularly and followed closely.

Admire

A feeling of wonder, pleasure, or approval towards someone or something.

Dream of Retiring

The aspiration or plan to leave the workforce permanently at a certain point in life, often with goals of relaxation, travel, or pursuing personal interests.