30. Help me selecting the right answer. Thank you Smith Company has issued a $60,000 face value, 10%, five-year bond at 95. What will be the journal entry at the maturity of the bond for the last semiannualinterest payment if the company uses the straight-line method of amortization?Interest ExpenseGain on Bonds PayableCashInterest ExpenseGain on Bonds PayableCashInterest ExpenseCashDiscount on Bonds PayableInterest ExpenseCashDiscount on Bonds Payable3000300027003003300900060003000300030060003000

Bonds :Bonds is a long-term debts issued by the government and companies to raise funds for their…

Smith Company has issued a $60,000 face value, 10%, five-year bond at 95. What will be the journal entry at the maturity of the bond for the last semiannual interest payment if the company uses the straight-line method of amortization? O Interest Expense Gain on Bonds Payable Cash O Interest Expense Gain on Bonds Payable Cash O Interest Expense Cash Discount on Bonds Payable O Interest Expense Cash Discount on Bonds Payable 3000 3000 2700 300 3300 9000 6000 3000 3000 300 6000 3000

Smith Company has issued a $60,000 face value, 10%, five-year bond at 95. What will be the journal entry at the maturity of the bond for the last semiannual interest payment if the company uses the straight-line method of amortization? O Interest Expense Gain on Bonds Payable Cash O Interest Expense Gain on Bonds Payable Cash O Interest Expense Cash Discount on Bonds Payable O Interest Expense Cash Discount on Bonds Payable 3000 3000 2700 300 3300 9000 6000 3000 3000 300 6000 3000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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