Question
On January 1 of the current year, the Barton Corporation issued 6% bonds with a face value of $91,000. The bonds are sold for $88,270.
On January 1 of the current year, the Barton Corporation issued 6% bonds with a face value of $91,000. The bonds are sold for $88,270. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is
a.$2,730
b.$6,006
c.$5,460
d.$455
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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
19th edition
1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911
