On January 1, Company X purchased bonds with a face value of $50,000 issued by Company Y. The stated rate of the bonds is 10% paid annually, and the bond matures in 4 years. The market rate for similar bonds is 12%. Company X has the intent of holding the bonds until maturity. What would Company X record as the discount on bonds payable upon purchasing the bonds?1- $3,0372- $3, 9453- $4,0724- $4,486

Frolic corporation has budgeted sales and production over the next quarter as follows. the company has 4100 units of product on hand at july 1. 10% of the next months sales in units should be on hand at the end of each month. october sales are expected to be 72000 units. budgeted sales for september would be: july august september sales in units 41,500 53,500 ? production in units 45,700 53,800 58,150