Question: Franklin Company issues $ 8 3 , 0 0 0 , 8 % , 5 - year bonds on January 1 , for $ 8

Franklin Company issues $83,000,8%,5-year bonds on January 1, for $86,740. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is
a. $2,946
b. $3,320
c. $6,640
d. $3,694
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Franklin Company issues $83,000,8%,5-year bonds on January 1, for $86,740. Interest

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