TB MC Qu. 7-101 (Algo) Jones Company issued bonds with a... 65 Jones Company issued bonds with a $240,000 face value on January 1, Year 1. The five-year term bonds were issued at 99 and had a 8.50% stated rate of interest that is payable in cash on December 31st of each year. Jones amortizes the bond discount using the straight-line method. Based on this information: 2 points The amount of interest expense shown on Jones's December 31, Year 1 income statement would be: 8 02:21:11 Skipped Multiple Choice $20,880. O $19,920. $21,360. O $20,400. O