accounting principles 1
NBC Corporation issued $560,000, 99%, 5−year bonds on January 1, 2019 for $606,573 when the market interest rate was 77%. Interest is paid semiannually on January 1 and July 1. The corporation uses the effective−interest method to amortize bond premium. The total amount of bond interest expense recognized on July 1, 2019 is
A 21230
B 27290
C 19600
D 25200
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