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What is the cash payment for interest on December

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Reference no: EM132959887

Question - Wilson Company issued bonds with a face value of $200,000, a 10% stated rate of interest, and a 10-year term. The bonds were issued on January 1, 2020, and Wilson uses the straight line interest method of amortization. Interest is paid annually on December 31. The bonds were issued for $220,000. What is the cash payment for interest on December 31st?

a. $18,000

b. $22,000

c. $10,000

d. $20,000

Reference no: EM132959887

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