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Question
sparks company received proceeds of $211,500 on 10-year, 8% bonds issued on january 1, 2011. the bonds had a face value of $200,000, pay interest annually on december 31st, and have a call price of 102. sparks uses the straight-line method of amortization. what is the carrying value of the bonds on january 1, 2013?
a.$200,000
b.$209,200
c.$190,800
d.$210,350
Answer
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