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On January 1, 2019, Corona South issued $360,000 of 9%, five-year bonds payable at 102. Corona Company has extra cash and wishes to retire the
On January 1, 2019, Corona South issued $360,000 of 9%, five-year bonds payable at 102. Corona Company has extra cash and wishes to retire the bonds payable on January 1, 2020 immediately after making the second semiannual interest payment. To retire the bonds, Coronado pays the market price of 98. What is the carrying amount of the bonds payable on the retirement date? A. $360,000 OB. $352,800 Oc. $367,200 OD. $365,760
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