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Garland Company received proceeds of $112800 on 10 year, 6% bonds issued on January 1, 2018. The bonds had a face value of $120000, pay

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Garland Company received proceeds of $112800 on 10 year, 6% bonds issued on January 1, 2018. The bonds had a face value of $120000, pay interest annually on January 1, and have a call price of 101. Garland uses the straight-line method of amortization What is the carrying value of the bonds on January 1, 2020? $114240 O $120000 $118416 O $113520

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