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1,Dakota Company issued $700,000 of 6%, 5-year bonds at 98, with interest paid annually. Assuming...

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Accounting

1,Dakota Company issued $700,000 of 6%, 5-year bonds at 98, with interest paid annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year?

2,John Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2013. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31. John uses the straight-line method of amortization. What is the amount of interest expense John will show with relation to these bonds for the year ended December 31, 2014?

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