Required information [The following information applies to the questions displayed below.] On January 1, Year 1, Wayne Company issued bonds with a face value of $600,000, a 6% stated rate of interest, and a 10- year term. Interest is payable in cash on December 31 of each year. Wayne uses the straight-line method to amortize bond discounts and premiums. Assuming Wayne issued the bonds for 102.5, what is the carrying value of the bonds on the December 31, Year 1 balance sheet? Multiple Choice $601,500 $613,500 $616,500 o oo $615,000