Schlecht Company sold 500,000, five-year, 10% bonds on January 1, 2017 for $520,000 and uses ann

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Schlecht Company sold $500,000, five-year, 10% bonds on January 1, 2017 for $520,000 and uses annual straight-line amortization. Which of the following amounts is the correct amount of interest expense to be recorded for the first year in 2017? A) $54,000 B) $46,000 C) $52,000 D) $40,000