On January 1, 2023, Jones Corporation issued $2.982.000, 9%, 5-year bonds with interest payable on January 1 and July 1. The bonds sold for $2.834,798. The market rate of interest was 11%. Using the effective - interest method, the debit entry to interest expense on July 1, 2023 is (round to the nearest dolar OA S134,190 OB $127.560. OC. $155.914 OD S184.010

On January 1, 2023, Jones Corporation issued $2.982.000, 9%, 5-year bonds with interest payable on January 1 and July 1. The bonds sold for $2.834,798. The market rate of interest was 11%. Using the effective - interest method, the debit entry to interest expense on July 1, 2023 is (round to the nearest dolar OA S134,190 OB $127.560. OC. $155.914 OD S184.010

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 5MC: On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond of $6,000...

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