Question: Kimble Electronics issued its 6 % , 2 0 - year bonds payable at a price of $ 4 0 , 0 0 0 $

Kimble Electronics issued its 6%,20-year bonds payable at a price of $40,000 $855,000(face value is $900,000). The company uses the straight-line amortization method for the bond discount or premium.
Interest expense for the first year is: $54,000
$56,250
IDON'T KNOWYET
Kimble Electronics issued its 6 % , 2 0 - year

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