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Cullumber Company received proceeds of $551000 on 10-year, 9 % bonds issued on January 1, 2019. The bonds had a face value of $584000,

Cullumber Company received proceeds of $551000 on 10-year, 9 % bonds issued on January 1, 2019. The bonds had a face value of $584000, pay interest annually on December 31, and have a call price of 104. Cullumber uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2021? $554300 O $557600 O $577400 O $584000

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