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30 Franklin corporation issues $81,000,8%,5-year bonds on January 1 , for $84,650. Interest is paid semiannually on January 1 and July 1 . If Franklin

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30

Franklin corporation issues $81,000,8%,5-year bonds on January 1 , for $84,650. Interest is paid semiannually on January 1 and July 1 . If Franklin uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is a. $6,480 b. $2,875 c. $3,240 d. $3,605

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