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Sheridan Company received proceeds of $641500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $680000, pay interest

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Sheridan Company received proceeds of $641500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $680000, pay interest annually on December 31, and have a call price of 103. Sheridan uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2021? $649200 $645350 $672300 5680000

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