Problem:
Wasserman Corporation issued 12-year bonds on January 1, 2013. Costs associated with the bond issuance were $195,600. Wasserman uses the straight-line method to amortize bond issue costs.
Required:
Question 1: Prepare the December 31, 2013, entry to record 2013 bond issue cost amortization.
Note: Be sure to show how you arrived at your answer.