A corporation issues $500,000, 8%, 5-year bonds on January 1, 2017 for $479,000. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of interest expense to be recognized on December 31, 2017 is

$42,100

$40,000

$44,200

$35,800

A corporation issues $500,000,8%,5-year bonds on January 1,2017 for $479,000. Interest is paid annually on January 1 . If the corporation uses the straight-line method of amortization of bond discount, the amount of interest expense to be recognized on December 31, 2017 is $42,100 $40,000 $44.200 $35,800