Question: Use the following information to answer the next question (set of 2). JK Corporation issued $700,000 of 3%, 10-year bonds on January 1, 20X2. Interest

Use the following information to answer the next question (set of

Use the following information to answer the next question (set of 2). JK Corporation issued $700,000 of 3%, 10-year bonds on January 1, 20X2. Interest is payable semiannually on June 30 and December 31. The bonds were issued for $642, 730 to yield an effective annual rate of 4%. How much bond interest expense should be reported on the income statement for the year ending December 31, 20X2? $26, 728 $56,000 $13, 364 $21,000 Some other amount, $

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