mework Seved Help Save & Exit On January 1, 2018, Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zee's acquisition date fair values, Jay concluded that the carrying value of Zee's long-term debt (8-year remaining life) was less than its fair value by $17,000. At December 31, 2018, Zee Company's accounts show interest expense of $14,080 and long-term debt of $320,000 What amounts of interest expense and long-term debt should appear on the December 31, 2018, consolidated financial statements of Jay and its subsidiary Zee? Interest expense Long-term debt $16,205 $16,205 $11,955 $11,955 $337,000 334,875 $337,000 $334, 875 . Multiple Choice Option 8 Option A