Answer is C, please explain. Exhibit 14-11 Omega, Inc. issued $100,000 of its 7% five-year...
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Answer is C, please explain.
Exhibit 14-11 Omega, Inc. issued $100,000 of its 7% five-year bonds on January 1, 2014, at 98. Interest is paid on January 1 and July 1. The bonds are callable at 104 and straight-line amortization is used. The bonds are recalled on April 1, 2016. Refer to Exhibit 14-11. Interest expense for 2016 will be
a. $1,750 b. $1,800 c. $1,850 d. $1,900
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