A corporation issues 100000 10 5-year bonds on january 1, Ask an Expert

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A corporation issues $100,000, 10%, 5-year bonds on January 1, 2009, for $104,200. Interest is paid semiannually on January 1 and July 1. If the corporation uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1, 2009, is:

A) $4,580.

B) $10,420.

C) $5,000.

D) $5,420.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9449890

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