Pan Company received proceeds of $160,000 on 10-year, 8% bonds issued on January
ID: 2504516 • Letter: P
Question
Pan Company received proceeds of $160,000 on 10-year, 8% bonds issued on January 1, 2013. The bonds had a face value of $198,000, pay interest semi-annually on June 30 and December 31. Pan uses the straight-line method of amortization. What is the amount of interest expense Pan will show with relation to these bonds for the year ended December 31, 2014? Select one: a. $15,840 b. $12,040 c. $13,940 d. $19,640 Pan Company received proceeds of $160,000 on 10-year, 8% bonds issued on January 1, 2013. The bonds had a face value of $198,000, pay interest semi-annually on June 30 and December 31. Pan uses the straight-line method of amortization. What is the amount of interest expense Pan will show with relation to these bonds for the year ended December 31, 2014? Pan Company received proceeds of $160,000 on 10-year, 8% bonds issued on January 1, 2013. The bonds had a face value of $198,000, pay interest semi-annually on June 30 and December 31. Pan uses the straight-line method of amortization. What is the amount of interest expense Pan will show with relation to these bonds for the year ended December 31, 2014? Select one: a. $15,840 b. $12,040 c. $13,940 d. $19,640 Select one: a. $15,840 b. $12,040 c. $13,940 d. $19,640 a. $15,840 b. $12,040 c. $13,940 d. $19,640Explanation / Answer
d. $19,640
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