On January 1, Waterway Industries issued $3200000, 8% bonds for $3004800. The market rate of interest for these bonds is9%. Interest is payable annually on December31. Waterway uses the effective-interest method of amortizing bond discount. At the end of the first year, Waterway should report unamortized bond discount of:

$256050.

$253000.

$272500.

$283500.

Answer rating: 100% (QA)

Discount on bonds payable 3200000 3004800 195200 In... View the full answer