on january 1 year 1, gordon corporation issed bonds with face value of $70,000, a stated rate of interest of 6%, and a 5 year term to maturity. the bonds were issued at 98. interest is payable in cash on december 31 each year. gordon uses the straight line method to amortize bond discounts and premiums.

which of the following shows the effect of the first interest payment and amortization of the premium or discount on the financial statements?

#10

On January 1 Year 1, Gordon Corporation issued bonds with a face value of $70,000. a stated rate of interest of 6% and a 5 year term to maturity. The bonds were issued at 98 . Interest is payable in cash on December 31 each year Gordon uses the straight-line method to amortize bond discounts and premiums. Which of the following shows the effect of the first interest payment and amorization of the premium or discount on the financial tatements