Renfro Company issued $300,000 of 8%, 10-year bonds at 102. Interest is paid annually, and the straight-line method is used for amortization. Assume that the market rate for similar investments is 7%. The bonds are issued on the date of the bonds.

Renfro Company issued $300,000 of 8%, 10-year bonds at 102. Interest is paid annually, and the straight-line method is used for amortization. Assume that the market rate for similar investments is 7%. The bonds are issued on the date of the bonds.

(a) Your answer is correct. What amount was received for the bonds? Amount received $ Attempts: 1 of 1 used

(b) Your answer is correct. How much interest is paid each interest period? Interest period $ Attempts: 1 of 1 used

(c) Your answer is correct. What is the premium amortization for the first interest period? Premium amortization $ Attempts: 1 of 1 used

(d) Your answer is correct. How much interest expense is recorded on the first interest date? Interest expense $ Attempts: 1 of 1 used

(e) Your answer is correct. What is the carrying value of the bonds after the first interest date? Carrying value $