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Make the journal entry to record the first interest payment

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Question - Great Lake Glassware Company issues $1,100,000 of its 8?%, 10-year bonds at 97 on February? 28, 2018. The bonds pay interest on February 28 and August 31. Assume that Great Lake uses the straight-line method for amortization. Make the journal entry to record the first interest payment on August? 31, 2018?

A. debit to Interest Expense for $42,350

B. debit to Interest Expense for $45,650

C. debit to Cash for $44,000

D. debit to Discount on Bonds Payable for 1650

Reference no: EM132713361

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