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On Jan 1, 2019 Gambit Corporation issues $100,000 of 5 -year, 3% bonds for $95,509...

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Accounting

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On Jan 1, 2019 Gambit Corporation issues $100,000 of 5 -year, 3% bonds for $95,509 when the market rate of interest was 4%. Gambit. Corporation uses the effective-interest method of amortization. Interest is paid each June 30 and December 31 . The entry to record the fi semi-annual interest payment on June 30,2019 will include a: Select one: 3. debit to Bonds Payable for $410 b. debit to interest Expense of $1,910 c. credit to interest Expense for $1,500 d. credit to Cash for $1,910

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