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On November 1, 2009, Davis Company issued $30,000, ten-year, 7% bonds for $29,100. The bonds were dated November 1, 2009, and interest is payable each

On November 1, 2009, Davis Company issued $30,000, ten-year, 7% bonds for $29,100. The bonds were dated November 1, 2009, and interest is payable each November 1 and May 1. How much is the amount of straight-line discount amortization on each semi-annual interest date?

a)$90

b)$45

c)$900

d)$450

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Question

On November 1, 2009, Davis Company issued $30,000, ten-year, 7% bonds for $29,100. The bonds were dated November 1, 2009, and interest is payable each

On November 1, 2009, Davis Company issued $30,000, ten-year, 7% bonds for $29,100. The bonds were dated November 1, 2009, and interest is payable each November 1 and May 1. How much is the amount of straight-line discount amortization on each semi-annual interest date? a)$90 b)$45 c)$900 d)$450

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On November 1, 2009, Davis Company issued $30,000, ten-year, 7% bonds for $29,100. The bonds were dated November 1, 2009, and interest is payable each November 1 and May 1. How much is the amount of straight-line discount amortization on each semi-annual interest date?

a)$90

b)$45

c)$900

d)$450