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Solderman Company issued $500,000, 6%, 10-year bonds for $432,800 with a market rate of 8%. The effective-interest method of amortization is to be used and interest is paid annually. The journal entry on the first interest payment date would include a:

A.credit to Interest Expense of $30,000.
B.credit to Cash of $34,624.
C.credit to Discount on Bonds Payable of $4,624.
D.credit to Interest Expense of $4,624.

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On January 1, 2014, Chin Corporation issued $3,000,000, 14%, 5-year bonds. The bond interest is payable on January 1 and July 1. The bonds sold for $3,219,600. The market rate of interest for these bonds was 12%. Under the effective-interest method, what is the interest expense for the six months ending July 1, 2014?

A.$180,000.
B.$188,040.
C.$193,176.
D.$210,000

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Fenway Corporation issued a $20,000, 10-year, 10% bond dated January 1, at 102. The journal entry to record the issuance of the bond will include a:

A.debit to Cash for $20,000.
B.debit to Cash for $20,400.
C.credit to Bonds Payable for $20,400.
D.debit to Discount on Bonds Payable for $400.

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On January 1, 2015, Brewers Corporation issued $800,000 of 6%, 5-year bonds at 98, with interest paid annually. Using the straight-line amortization method, what is the carrying value of the bonds on January 1, 2015?

A.$784,000
B.$785,600
C.$787,200
D.$790,400

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Lisle Corporation issued $200,000 of 10% bonds on January 1, 2014. The bonds pay interest semiannually on January 1 and July 1. The company has a fiscal year end of May 31. On May 31, 2014, the Lisle Corporation will:

A.make a journal entry to accrue interest expense from July 1 through December 31.
B.make a journal entry to accrue interest expense from January 1 through July 1
C.make a journal entry to accrue interest expense from January 1 through May 31.
D.make a journal entry to record cash interest paid on May 31.

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Solderman Company issued $500,000, 6%, 10-year bonds for $432,800 with a market rate of 8%. The effective-interest method of amortization is to be used and interest is paid annually. The journal entry on the first interest payment date would include a:

A.credit to Interest Expense of $30,000. B.credit to Cash of $34,624. C.credit to Discount on Bonds Payable of $4,624. D.credit to Interest Expense of $4,624.

Fenway Corporation issued a $20,000, 10-year, 10% bond dated January 1, at 102. The journal entry to record the issuance of the bond will include a:

On January 1, 2015, Brewers Corporation issued $800,000 of 6%, 5-year bonds at 98, with interest paid annually. Using the straight-line amortization method, what is the carrying value of the bonds on January 1, 2015?

Lisle Corporation issued $200,000 of 10% bonds on January 1, 2014. The bonds pay interest semiannually on January 1 and July 1. The company has a fiscal year end of May 31. On May 31, 2014, the Lisle Corporation will:

A.credit to Interest Expense of $30,000.
B.credit to Cash of $34,624.
C.credit to Discount on Bonds Payable of $4,624.
D.credit to Interest Expense of $4,624.