A $100,000 mortgage note was created, and the note entailed equal monthly payments of $2,500. The interest rate is 1% per month. How much interest expense associated with the second month? The effective interest method of amortization: is required, even if it achieves results similar to the straight-tine method. results in a level amount of interest expense over the life of a bond. causes interest expense to be a constant percent of the carrying value of a bond. will never produce results similar to the straight-line method. None of these. On January 1, 20 times 6, Brogden Corporation issued at 97 plus accrued interest, two hundred of its ten-year. 8%. $1,000 bonds. The bonds are dated October 1, 20 times 5. Interest is payable semi-annually on April 1 and October 1. Accrued interest for the period October 1, 20 times 5 to January 1, 20 times 6 amounted to $4,000. What amount should Brogden record for bonds payable (net of related discount) on January 1, 20 times 6? Which of the following statements is true? Preemptive rights make it easy for a corporation to issue additional shares. One purpose of a corporation is to avoid "double taxation." A corporate entity is typically of unlimited duration. A corporation can issue common or preferred stock. but no, both. None of these