Check my work On January 1, Year 1, Pierce Corporation issued $25,000 in 8%, 5-year bonds payable at 102. Interest payments are due each December 31. Pierce uses the straight-line method of amortization Which of the following answers shows the effect of the bond issuance on January 1, Year 1? Income Statement Stateme A. B. C. Assets = 25,500 25,500 25,500 25,500 Balance Sheet Stockholders Liabilities Equity 25,500 n/a 25,500 n/a 24,500 500 24,500 500 Revenue n/a n/a 500 500 Expense n/a n/a n/a n/a Net Income n/a n/a 500 500 25, 25, 25, 25, D. Multiple Choice Choice A Choice B Check my work On January 1, Year 1, Pierce Corporation issued $25,000 in 8%, 5-year bonds payable at 102. Interest payments are due each December 31. Pierce uses the straight-line method of amortization Which of the following answers shows the effect of the bond issuance on January 1, Year 1? Income Statement Stateme A. B. C. Assets = 25,500 25,500 25,500 25,500 Balance Sheet Stockholders Liabilities Equity 25,500 n/a 25,500 n/a 24,500 500 24,500 500 Revenue n/a n/a 500 500 Expense n/a n/a n/a n/a Net Income n/a n/a 500 500 25, 25, 25, 25, D. Multiple Choice Choice A Choice B