Question: On January 1, Dias Corporation issued $1,000,000, 14%, 5-year bonds with interest payable on July 1 and January 1. The bonds sold for $1,098,540. The market rate of interest for these bonds was 12%. On the first interest date, using the effective-interest method, the debit entry to Bond Interest Expense is for:
A
B
C
D
$60,000
B
$76,000
C
$65,912
D
$131,825
Note: Not available