Business, 25.11.2020 14:20 ed72018373

On January 1, the Elias Corporation issued 10% bonds with a face value of $120,000. The bonds are sold for $117,600. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is: a. $9,996
b. $10,404
c. $2,040
d. $10,200

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On January 1, the Elias Corporation issued 10% bonds with a face value of $120,000. The bonds are so...

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