On January 1, Year 1, Pierce Corporation issued $25,000 in 8%, 5-year bonds payable at 102. Interest payments are due each December 31. Pierce uses the straight-line method of amortization.Which of the following shows the effect of the interest payment and amortization on December 31, Year 1? Assets=Liab.+EquityRev.?Exp.=Net Inc.Cash flowA.(2,000)=(160)+(1,840)(1,840)?NA=(1,840)(2,000) FAB.(2,000)=(100)+(1,900)NA?1,900=(1,900)(100) FA/(1,900) OAC.(2,000)=(100)+(1,900)NA?1,900=(1,900)(2,000) OAD.(2,000)=NA+NANA?NA=NA(2,000) OA
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: C
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