4. Bonds are usually sold to finance noncurrent assets A) True B) False On October 1, 2012, Morton Company issued $250,000 face value of 9%, 15-year bonds for cash of$295,98 i, a price that yields 7%. The bonds mature on October 1 , 2027, and 5. l for semiannual interest payments. Using the effective interest rate method, interest expense recorded on December 31,2012, the end of the accounting period is A) 5,179.67 B) $ 6,659.57 C) $ 2,589.94 D) $10,359.34 On June 30, 2012, Grant Co. issued $100,000 face value of 8%, 20-year bonds for cash of $8 semiannual interest payments. Using the effective interest rate method, interest expense for the first six months ending on December 31,2012, is (round to the nearest dollary. A) $4,120 B) $4,000 C) $4,440 6. 2,409, a price that yields l 0%, The bonds mature on June 30, 2032, and call for D) $4,560