On january 1, a company issues bonds dated january 1 with a par value of $600,000. the bonds mature in 3 years. the contract rate is 7%, and interest is paid semiannually on june 30 and december 31. the bonds are sold for $564,000. the journal entry to record the first interest payment using straight-line amortization is:
a) debit interest expense $15,000; debit discount on bonds payable $6,000; credit cash $21,000.
b) debit interest expense $21,000; credit cash $21,000.
c) debit interest payable $21,000; credit cash $21,000.
d) debit interest expense $21,000; credit premium on bonds payable $6,000; credit cash $15,000.
e) debit interest expense $27,000; credit discount on bonds payable $6,000; credit cash $21,000.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively