A Company Issued 10-Year,6% Bonds with a Par Value of $1,000,000.The

question 97

Multiple Choice

A company issued 10-year,6% bonds with a par value of $1,000,000.The company received $1,120,000 upon issuance.Using the straight-line method,the amount of interest expense for the first semi-annual interest period is:

• A) $24,000.
• B) $30,000.
• C) $36,000.
• D) $60,000.

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