Bonsall Company issued $200,000 six-year bonds on January 1, 2019. The coupon rate for these bonds is 4% and the market rate on the date of issuance was 3%. Assuming Bonsall pays interest on the bonds annually, what is the total interest expense over the life of the bonds?

Select one:

a. $48,000.00

b. $43,337.53

c. $152,000.00

d. $37,165.62

McMillian Inc. had an ending balance in allowance for doubtful accounts of $12,000 in its June 30, 2019 financial statements. If McMillian uses the percentage of accounts receivable ending balance method for estimating bad debt expense, and its estimated uncollectible percentage is 4%, what was the ending accounts receivable balance reported in the June 30, 2019 financial statements?

Select one:

a. $300,000

b. $480

c. $350,000

d. $520