The first step in the accounting cycle is recording transactions in the general journal

Which of the following is not a benefit of virtual teams?

a. Improved brainstorming b. Reduced work-life conflicts for employees c. Easier to establish team cohesion d. Reduced real estate costs e. Ability to share knowledge of diverse markets

On January 1, Jean Loptein Inc. issued $3,000,000, 9% bonds for $2,817,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Jean Loptein uses the effective-interest method of amortizing bond discount. At the end of the first year, Jean Loptein should report unamortized bond discount of

a. $164,700. b. $171,300. c. $154,830. d. $153,000.