On November 1,2015,Archangel Services Issued $200,000 of 10-Year Bonds with a Stated

question 44

Multiple Choice

On November 1,2015,Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%.The bonds were sold at par,and make semiannual payments on April 30 and October 31.At December 31,2015,Archangel made an adjusting entry to accrue interest at year-end.How much interest expense will be recorded at December 31,2015?

• A) $6,000
• B) $1,000
• C) $500
• D) $1,500

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