Questions 17 to 22 relate to the following information Ferry Inc issued a $250,000 bond on March 1, 2020. The bond has a stated interest rate of 10% matures on March 1, 2023 and pays interest on September 1 and March 1 of every year, The market interest rate was 12% when the bond was issued. Ferry Inc has a December 31 year end and uses the effective interest method to amortize bond discount or premium, and uses a discount or premium account Present value factors for selected periods and interest rates are shown below. Periods 3 6 Present Value of S1 Present Value of Ordinary Annuity of $1 626 106 20 5% 594 0.8638 08396 0.7513 0.7118 2.7232 2.6730 24869 24018 0.7462 0.7050 0.56450.5066 5.0757 49173 4.3553 17.482 The amount of cash rocolvod for the bond issue on March 1, 2020 in equal to: Salect one a $250.000 $237.718 0.561.466 O d. $262.686 182 The journal artry to record the issuance of bonds on March 1, 2020 should included a credit Decount on tonds payable for $12.204 O Bonds payable for $250.000 O Pramon bonds pas $12.66 O4 Bonos pytle for 1202.22

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