Description of this paper

A corporation issues $100,000, 10%, 5-year bonds on January 1, 2007, for $95,800.

Description

solution


Question

A corporation issues $100,000, 10%, 5-year bonds on January 1, 2007, for $95,800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2007?s adjusting entry is;A) $10,840.;B) $10,000.;C) $9,160.;D) $840.

 

Paper#24703 | Written in 18-Jul-2015

Price : $27
SiteLock