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Melon Company issues $1,039,000 of its 12%,10-year bonds at 99 on February 28, Year 1 . The bonds pay interest on February 28 and August

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Melon Company issues $1,039,000 of its 12%,10-year bonds at 99 on February 28, Year 1 . The bonds pay interest on February 28 and August 31. Assume that Melon uses the straight-line method for amortization. What net amount will be reported for the bonds on the August 31, Year 1 balance sheet? $1,029,129 $1,028,090 $1,039,000 $1,028,610

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