What entry is needed at october

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Reference no: EM132234183

Question - Accurate Numbers, Inc., issued $100,000 of 10 year, 12% bonds dated April 1, 20X1, for $102,360 on April 1, 20X1. The bonds pay interest on April 1 and October 1. Straight-line amortization is used by the company. What entry is needed at October 1 for the first interest payment?

A. Interest expense 5,882

Premium on bonds payable 118

Cash 6,000

B. Interest expense 6,118

Discount on bonds payable 118

Cash 6,000

C. Interest expense 6,000

Premium on bonds payable 118

Cash 6,118

D. Interest expense 6,000

Cash 6,000

Reference no: EM132234183

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