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On January 1, the Elias Corporation issued 10% bonds with a face value of $90,000. The bonds are sold for $88,200. The bonds pay interest
On January 1, the Elias Corporation issued 10% bonds with a face value of $90,000. The bonds are sold for $88,200. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is. a. $8,820 b. $9,000 c. $9,180 d. $1,800
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