On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $210,000, 9 percent bond issue for $197,008. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method.

Required information [The following information applies to the questions displayed below.] On January 1 , when the market interest rate was 10 percent, Seton Corporation completed a $210,000,9 percent bond issue for $197,088. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. Answer is complete but not entirely correct