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Novak Company issued $550,000, 5%, five-year bonds for 111, with interest paid annually. Assuming straight-line amortization, what is the carrying value of the bonds

Novak Company issued $550,000, 5%, five-year bonds for 111, with interest paid annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year? OA. $610,500 B. $604,450 C. $622,600 D. $598,400

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