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Franklin corporation issues $97,000, 8%, 5-year bonds on January 1, for $101,370. Interest is paid...

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Accounting

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Franklin corporation issues $97,000, 8%, 5-year bonds on January 1, for $101,370. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is a. $3,443 b. $3,880 c. $4,317 d. $7,760

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