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Find what is the amount of discount amortization

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MacDonald Corporation issued $400,000 of 6.5?% 10?-year bonds. The bonds are dated and sold on January? 1, 2015. Interest payment dates are January 1 and July 1. The bonds are issued for $385,788 to yield the market interest rate of 7?%. MacDonald Corporation uses the? effective-interest method.

Question 1: The interest expense that MacDonald Corporation will record on July? 1, 2015 is $13,503 and the interest payment is $13,000. What is the amount of discount amortization that MacDonald Corporation will record on July? 1, 2015?, the first semiannual interest payment? date?

A. $13,503

B. $13,000

C. ?$-0-

D. $503

Reference no: EM132611053

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