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The Great Lakes Company issues $535,000 of 6%, 10-year bonds at 104 on March 31, 2024. The bond pays interest on March 31 and September
The Great Lakes Company issues $535,000 of 6%, 10-year bonds at 104 on March 31, 2024. The bond pays interest on March 31 and September 30. Assume that the company uses the straight-line method for amortization. The journal entry to record the first interest payment on September 30, 2024 includes a (Round your intermediate answers to the nearest dollar.) O A. debit to Interest Expense for $17,120 OB. debit to Cash for $16.050 OC. credit to Premium on Bonds Payable for $1,070 OD. debit to Interest Expense for $14,980
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