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What bond interest expense of the first year is

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Problem 1: On January 1, Elias Corporation issued 10% bonds with a face value of $50,000. The bonds are sold for $46,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 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. $5,400

b. $5,200

c. $5,800

d. $5,000

Reference no: EM132985661

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