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On January 1, 2020, Naples Co. issued $280,000 of 10-year bonds at 96. The bonds pay 6% cash interest annually on December 31. The company
On January 1, 2020, Naples Co. issued $280,000 of 10-year bonds at 96. The bonds pay 6% cash interest annually on December 31. The company retired 30% of the bonds on June 1, 2020, when the bonds were selling at 90 plus accrued interest. Assume the straight-line interest method is used to amortize the bond discount. What is the carrying value of the bonds to be redeemed just prior to the bond redemption? Select one: O a. $80,808 O b $84,000 C. $80,640 O d. $80,780
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