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On Jonuary 1 Year 1, Gordon Corporation issued bonds with a face value of $70,000,...

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Accounting

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On Jonuary 1 Year 1, Gordon Corporation issued bonds with a face value of $70,000, a stated rate of interest of 6%, and a 5 -year term to maturity. The bonds were issued at 98. Interest is payable in cash on December 31 each yeat Gordon uses the straight-line method to amortize bond discounts and premiums. Which of the following shows the effect of the bond issuance on the financial statements? Muspe choice Ophion C Option 1 Getiven A Outen 2 On January 1, Year 1, Hanover Corporation issued bonds with a $36.500 face value, a stated rate of interest of 7%. and a 5 -year term to maturity. The bonds were issued at 98 Hanover uses the straightline method to amortize bond discounts and premiums. Interest is payable in cash on December 31 each year How much interest expense wit Hanover report on its income statement on December 31, Year 1? Mutipie chaice 32301 \$i 6 f.555

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