On January 1,2019,Tonika Company issued a four-year,$10,000,7% bond.The interest is payable annually each December 31.The issue price was $9,668 based on an 8% effective interest rate.Tonika uses the effective-interest amortization method.
- Rounding calculations to the nearest whole dollar,which of the following journal entries correctly records the 2019 interest expense?

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The Answer of On January 1,2019,Tonika Company issued a four-year,$10,000,7% bond.The interest is payable annually each December 31.The issue price was $9,668 based on an 8% effective interest rate.Tonika uses the effective-interest amortization method.
- Rounding calculations to the nearest whole dollar,which of the following journal entries correctly records the 2019 interest expense?

On January 1,2019,Tonika Company Issued a Four-Year,$10,000,7% Bond