Question

A company issued 10-year, 7% bonds with a face value of $100,000. The company received $97,947 for the bonds. Using the straight-line method of amortization, the amount of interest expense for the first interest period is:

A) $7,000.00

B) $7,205.30

C) $6,794.70

D) $2,053.00

Answer

This answer is hidden. It contains 292 characters.