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A corporation issues $291000, 10%, 5-year bonds on January 1, 2020, for $278700. Interest is paid annually on January 1. If the corporation uses the

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A corporation issues $291000, 10%, 5-year bonds on January 1, 2020, for $278700. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is $2460 $26640 $31560. $29100

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