Mcknight corporation issued $ 2,100,000, 15-year, 4% bonds for $ 2,016,000 on january 1, 2019. interest is paid semiannually on january 1 and july 1. the corporation uses the straight-line method of amortization. mcknight's fiscal year ends on december 31. the amount of discount amortization on july 1, 2019, would be?

discount on bond payable  amortization for paymentof July 1st,2019:

2,800

Explanation:

face value 2,100,000

issued at   2,016,000

discount         84,000

striaght-line amortization:   disount / total payments

total payment: 15 year at 2 payment per year = 30

84,000/30 = 2,800 per payment

cash proceeds 2,100,000 x 0.04/2 = 42,000

interest expense 42,000 + 2,800 = 44,800

July 1, 2019

interst expense 44,800 debit

   discount on bond payable  2,800

   cash                                    42,000

his average speed in km per hour is ≈ 55.4 km/h and about 15.4 m/s.