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A corporation issues $399000, 8%, 5-year bonds on January 1, 2020, for $415800. Interest is paid annually on January 1. If the corporation uses the

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A corporation issues $399000, 8%, 5-year bonds on January 1, 2020, for $415800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized in December 31, 2020's adjusting entry is $35280 O $3360 $28560. $31920

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