On january 1 20x4 50000 of 20-year 6 percent debentures, Ask an Expert

Accounting

On January 1, 20x4, $50,000 of 20-year, 6 percent debentures were issued for $56,275.20. Interest payment dates on the bonds are January 1 and July 1. The amount of premium to be amortized on July 1, 20x4, when using the straight-line method is:

A. $313.76

B. $156.88

C. $776.50

D. $ 93.11

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