Question: 1 - Q3 [Section 1 general information stays the same. It is repeated for your information.] The Ginsberg Co. issued 10-year bonds on April 30,

1 - Q3 [Section 1 general information stays the same. It is repeated for your information.] The Ginsberg Co. issued 10-year bonds on April 30, YR 1. The debt has a face value of $1,000,000 and an annual stated interest rate of 8%. Interest payments are due semiannually beginning October 31, YR 1. The market interest rate on the bonds is 10%. Ginsberg amortizes any discount or premium using the effective interest method and has a fiscal year-end of December 31. In addition, Ginsberg incurs $30,000 of bond issue costs related to this bond issue. Ginsberg uses a straight line to recognize bond issue costs at the end of each year. What account and amount do you credit on Apr. 30, YR1? [Select]

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