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Posted on Sep 10, 2024

On January 1, 2024, Solo Incorporated issued 1,100 of its 7%, $1,000 bonds at 98.4. Interest is payable semiannually on January 1 and July 1.

On January 1, 2024, Solo Incorporated issued 1,100 of its 7%, $1,000 bonds at 98.4. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1, 2034. Solo paid $51,000 in bond issue costs. Solo uses straight-line amortization.

What is the carrying value of the bonds reported in the December 31, 2024, balance sheet?

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