On November 1, 2013, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000 and make semiannual payments on April 30 and October 31. At December 31, 2013, Archangel made an adjusting entry to accrue interest at year-end. Please provide that entry.
Definitions:
Foot-In-The-Door
A psychological technique that involves getting a person to agree to a large request by first setting them up by agreeing to a modest request.
Fundamental Attribution Error
The tendency to overestimate personality or dispositional factors and underestimate situational influences when explaining the behavior of others.
Slacking Off
The act of reducing effort or avoiding work altogether.
Cognitive Dissonance
The psychological distress felt when an individual has two or more opposing beliefs, ideas, or values at the same moment.
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