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On April 1, year 1. Cricket Corporation issues $56 million of 8%, 14-year bonds payable at par. Interest on the bands is payable semiannually each

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On April 1, year 1. Cricket Corporation issues $56 million of 8%, 14-year bonds payable at par. Interest on the bands is payable semiannually each April 1 and October 1 Interest expense on this bond issue reported in Cricket's Year 1, Income statement is Multiple Choice $2.985,666 $3.360.000 S1493.333 10.000

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