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31. The adjusted trial balance for Lamar Corp. at the end of the current year, 2018, contained the following accounts. 5-year Bonds Payable 8% $1,500,000

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31. The adjusted trial balance for Lamar Corp. at the end of the current year, 2018, contained the following accounts. 5-year Bonds Payable 8% $1,500,000 Interest Payable 50,000 Discount on Bonds Payable 100,000 Notes Payable (3 mo.) 40,000 Notes Payable (5 yr.) 145,000 Mortgage Payable ($10,000 due currently) 300,000 Salaries and Wages Payable 18,000 Taxes Payable (due 3/15 of 2019) 25,000 The total long-term liabilities reported on the balance sheet are a. $1,645,000. b. $1,835,000. c. $1,935,000. d. $2,035,000. 32. On January 1, Banner Corporation issues $1,000,000, 10-year, 10% bonds at 105 with interest payable on January 1. The carrying value of the bonds, using straight-line amortization, at the end of the second interest period is: a. $960,000 b. $1,000,000 C. $1,040,000 d. $1,050,000

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