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  3. wayne company issued bonds with a face value of $6

Wayne Company issued bonds with a face value of $600,000, a 6% stated rate of...

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Accounting

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Wayne Company issued bonds with a face value of $600,000, a 6% stated rate of interest, and a 10-year term for $615,000 cash. The bonds were issued on January 1, 2016, and Wayne uses the straight-line method of amortization. Interest is paid annually on December 31. The amount of interest expense appearing on the 2016 income statement would be: Select one: A. $15,000. B. $36,000. C. $37, 500. D. $34, 500

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