On January 1, 2017, $4,000,000, 5-year, 10% bonds, were issued for $4,240,000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize premium on bonds payable, the monthly amortization amount is
A)$35,332.
B)$48,000.
C)$4,800.
D)$4,000.

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The Answer of On January 1, 2017, $4,000,000, 5-year, 10% bonds, were issued for $4,240,000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize premium on bonds payable, the monthly amortization amount is
A)$35,332.
B)$48,000.
C)$4,800.
D)$4,000.

On January 1, 2017, $4,000,000, 5-Year, 10% Bonds, Were Issued