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Judy Company sold $960,000 of 6%,20 year bonds at $921,600 on January 1, 2024. The...

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Accounting

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Judy Company sold $960,000 of 6%,20 year bonds at $921,600 on January 1, 2024. The bonds were dated January 1, 2024 and pay interest on June 30 and December 31 . Judy paid $80,000 in bond issue costs. If Judy uses the straight-line amortization, the amount of interest expense for year 2024 would be: $31.690 $54240 $63.520 Stells florist borrows $200,000 to be paid off in seven years. The loan payments are annual with the first payment due in one year, and annual interest rate is at 8%. What is the amount of each payment? $38,414 $35,827 $37381 $35,569

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