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On April 1, year 1, Cricket Corporation issues $46 million of 6%, 14-year bonds payable at par. Interest on the bonds is payable semiannually each

On April 1, year 1, Cricket Corporation issues $46 million of 6%, 14-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1. Interest expense on this bond issue reported in Cricket's Year 1, income statement is: $2,070,000. $920,000. $1,840,000. $2,760,000

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