n/a Asignment/kessgnment The Merchant Company issued 10 year bonds on January 1. The 8% bonds have a face value of $110,000 and pay interest every January 1 and July 1. The bonds were sold for $132,672 based on the market interest rate of 6%. Merchant uses the effective interest method to amortize bond discounts and premiums. On Saly 1 of the first year, Merchant should record interest expense (round to the nearest dollar) of O$3,300 O$5.307 054,400 033,900 Previous Next Su Test for Grading