On January 1, Dias Corporation issued $1,000,000, 14%. 5-year bonds with interest payable on July 1 and

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On January 1, Dias Corporation issued $1,000,000, 14%.
5-year bonds with interest payable on July 1 and January 1. The bonds sold for $1,098,540. The market rate of interest for these bonds was 12%. On the first interest date, using the effective-interest method, the debit entry to Bond Interest Expense is for:

a. $60,000.

b. $76,898.
^e. $65,912.

d. $131,825.

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