6. On January 1, 2020, Wassel Co. sold 12% bonds with a face value of $1,000,000...

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6. On January 1, 2020, Wassel Co. sold 12% bonds with a face value of $1,000,000 The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $1,077,250 to yield 10% Using the effective-interest method of amortization, interest expense for 2020 is a $100,000. b. $107,419. c. $107,700. d. $120,000. Dr. 11,2 35 1.300,000 lus 2355 6. On January 1, 2020, Wassel Co. sold 12% bonds with a face value of $1,000,000 The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $1,077,250 to yield 10% Using the effective-interest method of amortization, interest expense for 2020 is a $100,000. b. $107,419. c. $107,700. d. $120,000. Dr. 11,2 35 1.300,000 lus 2355