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On January 1, Banner Corporation issues $1,000,000, 10-year, 10% bonds at 105 with interest payable...

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Accounting

On January 1, Banner Corporation issues $1,000,000, 10-year, 10% bonds at 105 with interest payable on January 1. The carrying value of the bonds, using straight-line amortization, at the end of the second interest period is:

a. $960,000.

b. $1,000,000.

c. $1,040,000.

d. $1,050,000.

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