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Business, 13.07.2020 22:01 yachtboy1917
On November 1, 2018, Arch Services issued $ 331 comma 000of eightminusyearbonds with a stated rate of 14%at par. Interest payments occur each April 30 and October 31. On December 31, 2018, Arch made an adjusting entry to accrue interest at yearminusend. What is the amount of Interest Expense that will be recorded on December 31, 2018? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
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