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On January 1, 2018, Callahan Boating Equipment Company received $72,000 when it issued bonds. When...

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Accounting

On January 1, 2018, Callahan Boating Equipment Company received $72,000 when it issued bonds. When the bonds mature in four years, Callahan will pay bondholders a face amount of $80,000. Based on this information, the bonds were issued at a:

Select one:

a. $4,000 discount

b. $8,000 discount

c. $8,000 premium

d. $4,000 premium

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