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At the end of 2018, Howard Company purchased 6,000, $1,000, 9% bonds. The carrying value of the bonds at December 31, 2018 was $5,640,000. The

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At the end of 2018, Howard Company purchased 6,000, $1,000, 9% bonds. The carrying value of the bonds at December 31, 2018 was $5,640,000. The bonds mature on March 1, 2023, and pay interest on March 1 and September 1. Howard sells 3,000 bonds on September 1, 2019, for $2,952,000, after the interest has been received. Howard uses straight-line amortization. The gain on the sale is a. $101,800. b. $98,600. C. $112,400. d. $103,200

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