On January 1, 2014, Partridge Company Issued $50,000 of 6-Year

question 11

Essay

On January 1, 2014, Partridge Company issued $50,000 of 6-year bonds with a stated rate of 3%. The market rate at time of issue was 4%, so the bonds were discounted and sold for $47,331. Partridge uses the effective-interest rate of amortization for bond discount. Semiannual interest payments are made on June 30 and December 31 of each year. Which of the following is the correct journal entry to record the first interest payment? (Please round all amounts to the nearest whole dollar.)
A)

B)

C)

D)

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Definitions:

Preconventional Level

The first level of Kohlberg's stages of moral development, where moral reasoning is based on rewards and punishments.

Moral Development

The process through which individuals evolve their understanding of right and wrong, influenced by personal, social, and cultural factors.

Kohlberg

Lawrence Kohlberg was a psychologist known for his theory of moral development, which outlines the stages of moral reasoning individuals pass through.

Moral Development

refers to the process through which individuals grow in their understanding of morality, ethics, and the distinction between right and wrong.