g On January 1, 2020, Fotso Corporation issued 5 year bonds with a face value of $200,000 and coupon rate of 12% interest, payable semiannually on June 30 and December 31. The market rate of interest at the time of issuance was 14%, and the bonds were issued at a discount of $14,047. Using the effective-interest method, the amount of discount that should be amortized on December 31, 2020, is

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: