Essay
On January 1, 2016, Enron Corporation issued a 4-year, 7%, $9,000 bond payable. Beginning in 2017, interest is payable annually every January 1. The market rate of interest at issuance is 9%. How much are the interest payments by Enron? Why is the amount of interest expense different than the cash payments?
Correct Answer:
Verified
Correct Answer:
Verified
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