Winrow Company received proceeds of $754,000 on 10-year, 8% bonds issued on January 1, 2016....
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Winrow Company received proceeds of $754,000 on 10-year, 8% bonds issued on January 1, 2016. The bonds had a face value of $800,000, pay interest annually on December 31st, and have a call price of 101. Winrow uses the straight-line method of amortization. What is the amount of interest expense Winrow will show with relation to these bonds for the year ended December 31, 2017? 6 9 1) $64,000 2) $60,320 3) $68,600 4) $59.400
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