?

Financial Accounting

Free Version

Upgrade subject to access all content

Difficult

Accrued Interest and Interest Expense

FINACT-GEZQ5E

On November 1, 2015, QuickTax Services issued \$600,000, 5-year bonds with a stated interest rate of 10% at par. Interest is paid semiannually on April 30 and October 31. On December 31, 2015, the company made an adjusting entry to record accrued interest. No other entries were made related to this bond until April 30, 2016.

What is the interest expense for the period from January 1 to April 30, 2016 (in \​$)?