Homework Answers
Answer
|
Date |
Cash paid |
Interest Expense |
Decrease in Carrying Value |
Carrying value |
|
1 Jan X1 |
$187,436 |
|||
|
6/30X1 |
$7,000 |
$6,560 |
$440 |
$186,996 |
--Working
|
Date |
Cash paid |
Interest Expense |
Decrease in Carrying Value |
Carrying value |
|
1 Jan X1 |
187436 |
|||
|
6/30X1 |
=175000*8%*6/12 |
=187436*7%*6/12 |
=7000-6560 |
=187436-440 |
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