On January 1, 2022, $3,000,000, 10-Year, 10% Bonds, Were Issued

Multiple Choice

On January 1, 2022, $3,000,000, 10-year, 10% bonds, were issued for $2,916,000.Interest is paid annually on January 1.If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the monthly amortization amount is

A) $14,000.
B) $16,800.
C) $700.
D) $1,400.