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On January 1 of the current year, Barton Corporation issued 10% bonds with a face...

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Accounting

On January 1 of the current year, Barton Corporation issued 10% bonds with a face value of $100,000. The bonds are sold for $95,000. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is

a.$11,000

b.$11,500

c.$500

d.$5,000

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