Question
Wildhorse Co. received proceeds of $609000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $580000, pay interest
Wildhorse Co. received proceeds of $609000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $580000, pay interest annually on December 31, and have a call price of 102. Wildhorse uses the straight-line method of amortization. What is the carrying value of the bonds on December 31, 2021?
$580000
$603200
$556800
$606100
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Loose Leaf Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds, Frances McNair, Philip Olds
8th Edition
0077433807, 978-0077433802
