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Find the amount of interest expense

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Question - Via Company issued bonds with a $500,000 face value and a 6% stated rate of interest on January 1, 2020. The bonds carried a 5-year term and sold for 105. Via uses the straight-line method of amortization. Interest is payable on December 31 of each year.

Required - Find the amount of interest expense appearing on the December 31, 2023 income statement?

a. $30,000.

b. $25,000.

c. $35,000

d. $15,000

Reference no: EM132963668

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