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Bonds with a stated interest rate of 8% and a face value totaling $675,000 were issued for $702,000 on January 1, 2016, when the market
| Bonds with a stated interest rate of 8% and a face value totaling $675,000 were issued for $702,000 on January 1, 2016, when the market interest rate was 7%. The company uses effective-interest bond amortization. |
| Required: |
| Determine the carrying value of the bonds at December 31, 2017. (Round your answer to nearest whole dollar.) |
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Audit And Accounting Guide Employee Benefit Plans
Authors: American Institute Of Certified Public Accountants
1st Edition
