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On January 1, 2019, Tonika Company issued a six-year, $10,000, 6% bond. The interest is payable...

On January 1, 2019, Tonika Company issued a six-year, $10,000, 6% bond. The interest is payable annually each December 31. The issue price was $9,523 based on an 7% effective interest rate. Tonika uses the effective-interest amortization method. The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to: A) $9590 B) $9519 C) $9523 D) $9661

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The answer has been presenetd in the supporting sheet. For detailed answer reefr to the supporting sheet.

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