The Gordon Corporation issued $70,000 of 6%, 5-year bonds on January 1, Year 1 at 98. The interest payments are due on December 31 each year. Gordon uses the straight-line method of amortization.Which of the following answers shows the effect of the first interest payment and amortization of premium or discount?

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The Answer of The Gordon Corporation issued $70,000 of 6%, 5-year bonds on January 1, Year 1 at 98. The interest payments are due on December 31 each year. Gordon uses the straight-line method of amortization.Which of the following answers shows the effect of the first interest payment and amortization of premium or discount?

The Gordon Corporation Issued $70,000 of 6%, 5-Year Bonds on January