7. On July 1, 2018, Mason & Beech Services issued $31,000 of 10% bonds that mature in five years. They were issued at par. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2018, what is the total amount paid to bondholders? On January 1, 2019, First Street Sales issued $18,000 in bonds for $16,700. These are sixyear bonds with a stated interest rate of 12% that pay semiannual interest. First Street Sales uses the straightline method to amortize the Bond Discount. Immediately after the issue of the bonds, the ledger balances appeared as follows: Bonds Payable 18,000 Discount on Bonds Payable 1,300 After the first interest payment on June 30, 2019, what is the balance of Discount on Bonds Payable? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

A. debit of $1,408

B. credit of $108

C. debit of $1,192

D. debit of $1,300

10. The Technology Company issues $506,000 of 10%, 10year bonds at 108 on March 31, 2018. The bonds pay interest on March 31 and September 30. Assume that the company uses the straightline method for amortization. Calculate the net balance that will be reported for the bonds on the September 30, 2018 balance sheet. (Round your intermediate answers to the nearest dollar.)

a. $506,000

b. $546,480

c. $544,456

d. $548, 504

16. Treasury stock ________.

A. decreases the number of shares issued

B. increases the number of shares outstanding

C. increases the number of shares issued

D. decreases the number of shares outstanding