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Check Stuart Company issued bonds with a $192,000 face value on January 1, Year 1. The bonds had a 8 percent stated rate of interest

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Check Stuart Company issued bonds with a $192,000 face value on January 1, Year 1. The bonds had a 8 percent stated rate of interest and a five-year term. Interest is paid in cash annually, beginning December 31. Year 1. The bonds were issued at 102. The straight-line method is used for amortization Required b. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31, Year 1. c. Determine the amount of interest expense reported on the Year 1 income statement d. Determine the carrying value of the bond liability as of December 31. Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement 0 $ $ c b. Carrying value Interest expense & Carrying value e Interest expense 0 $ O $ 0

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