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Question
winrow company received proceeds of $377,000 on 10-year, 8% bonds issued on january 1, 2011. the bonds had a face value of $400,000, pay interest annually on december 31st, and have a call price of 101. winrow uses the straight-line method of amortization. what is the carrying value of the bonds on january 1, 2013?
a.$400,000
b.$381,600
c.$395,400
d.$379,300
Answer
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