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On January 1, 2021, Morton Sales Co. issued zero-coupon bonds with a face value of $6.5 million for cash. The bonds mature in 12 years

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On January 1, 2021, Morton Sales Co. issued zero-coupon bonds with a face value of $6.5 million for cash. The bonds mature in 12 years and were issued at a price of $2,886,065. (FV Of S1 PV of $1. FVA of $1. PVA of $1. EVAD of S1 and PVAD of SD (Use appropriate factor(s) from the tables provided.) Required: What will Morton Sales Co. report on these bonds in its December 31, 2021, balance sheet? (Round your intermediate calculations and final answer to the nearest whole dollar.) Bonds payable

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