On January 1, 2011, an investor paid $299,000 for bonds with a face amount of $350,000. The stated rate of interest is 10% while the current market rate of interest is 12%. Using the effective interest method, how much interest income is recognized by the investor in 2011 (assume annual interest payments and amortization)? On January 31, 2011, B Corp. issued $500,000 face value, 11% bonds for $500,000 cash. The bonds are dated December 31, 2010, and mature on December 31, 2020. Interest will be paid semiannually on June 30 and December 31. What amount of accrued interest payable should B report in its September 30, 2011, balance sheet? During the year, Hamlet Inc. paid $23,000 to have bond certificates printed and engraved, paid $150,000 in legal fees, paid $18,000 to a CPA for registration information, and paid $260,000 to an underwriter as a commission. What is the amount of bond issue costs? On February 1, 2010, Pat Weaver Inc. (PWI) issued 9%, $1,400,000 bonds for $1,700,000. PWI retired all of these bonds on January 1, 2011, at 102. Unamortized bond premium on that date was $142,800. How much gain or loss should be recognized on this bond retirement? Nickel Inc. owns $600,000 of 10-year, 8% bonds as an investment on December 31, 2010. The bonds have 3 years remaining to maturity. The unamortized premium remaining on these bonds was $48,000. Nickel uses straight-line amortization. On May 1, 2011, $120,000 of the bonds were redeemed at 111. How much, and what type of gain or loss, most likely results from this redemption