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Croc Inc. issued a 5-year, 5%, $100,000 bond on July 1, 2013 for $95,000. The...

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Accounting

Croc Inc. issued a 5-year, 5%, $100,000 bond on July 1, 2013 for $95,000. The first interest payment will be paid on July 1, 2014. What should Croc recognize on Dec 31, 2013 for this bond? Increase in interest expense Decrease in bonds payable Increase in discount on bonds payable No change recognized for this bond

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