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Joffrey Ballet Corp. sold $3,000,000, 10%, 10-year bonds on January 1, 2002. The bonds were...

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Accounting

Joffrey Ballet Corp. sold $3,000,000, 10%, 10-year bonds on January 1, 2002. The bonds were dated January 1 and pay interest July 1 and January 1. Joffrey Ballet Corp. uses the straight-line method to amortize bond premium or discount. The bonds were sold at 104. How much interest expense will be recognized on July 1? $144,000 $150,000 $300,000 $156,000

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