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On January 1, $941,000, 5-year, 10% bonds, were issued for $912,770. Interest is paid semiannually...

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Accounting

On January 1, $941,000, 5-year, 10% bonds, were issued for $912,770. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the semiannual amortization amount is

a.$47,050

b.$5,646

c.$2,823

d.$28,230

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