On January $1,2024,$ 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 $($eight$-$year remaining life$)$ was less than its fair value by $$20,000.$ At December $31,2024,$ Zee Company$$s accounts show interest expense of $$14,400$ and long$-$term debt of $$360,000.$ What amounts of interest expense and long$-$term debt should appear on the December $31,2024,$ consolidated financial statements of Jay and its subsidiary Zee?

ItemInterest expenseLong$-$term debta.$ $16,900$$ $380,000$b$.$$ $16,900$$ $377,500$c$.$$ $11,900$$ $380,000$d$.$$ $11,900$$ $377,500$ On January $1,2024,$ Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zee's acquisition$-$date fair values, Jay concluded that the carrying value of Zee's long$-$term debt $($eightyear remaining life$)$ was less than its fair value by $\backslash (\backslash$$ $20,000\backslash ).$ At December $31,2024,$ Zee Company's accounts show interest expense of $\backslash (\backslash$$ $14,400\backslash )$ and long$-$term debt of $\backslash (\backslash$$ $360,000\backslash ).$ What amounts of interest expense and long$-$term debt should appear on the December $31,2024,$ consolidated financial statements of Jay and its subsidiary Zee?

Multiple Choice

Option C

Option D

Option B

Option A