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Required information [The following information applies to the questions displayod below.] On January 1, 2024, Splash City issues $390,000 of 7% bonds, due in 10

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Required information [The following information applies to the questions displayod below.] On January 1, 2024, Splash City issues $390,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 8% and the bonds issued at $363,499. lequired: Using an amortization schedule, show that the bonds have a carrying value of $367,278 on December 31, 2025. (Round your final answers to nearest whole dollar.)

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