Accounting I (Fall 2020) sec. 01 Farah Company issues 10,000,000, 7.8%, 20-year bonds to yield 8% on July 1, 2018. Interest is paid on July 1 and January 1. The proceeds from the bonds are 9,802,073. What amount of interest expense will be reported on the 2019 income statement? a. 392,083 b. 780,000 c. 784,249 d. 784,419 Answer 7 A BI