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Hooker Company issues $200,000 of ten-year, 8% bonds to yield 10% on January 1, 2018. The bonds pay interest annually on December 31. The bonds

Hooker Company issues $200,000 of ten-year, 8% bonds to yield 10% on January 1, 2018. The bonds pay interest annually on December 31. The bonds were sold at a discount of $24,578.

The bond carrying amount at the end of 2018 is:

Multiple Choice

  • $175,422.
  • $176,964.
  • $200,000.
  • $201,542.

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