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On July 1, 20B, WildWorld, Inc., sold (issued) 300, $1,000, ten-year, 7% bonds at 101. The bonds were dated July 1, 20B, and semi-annual interest
On July 1, 20B, WildWorld, Inc., sold (issued) 300, $1,000, ten-year, 7% bonds at 101. The bonds were dated July 1, 20B, and semi-annual interest will be paid each December 31 and June 30. WildWorld uses straight-line amortization. The bond liability that would be reported on the balance sheet at December 31, 20B, is
A) $300,000.
B) $302,850.
C) $302,700.
D) $303,000.
E) None of the above is correct.
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