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A company issues $16700000, 9.8%, 20-year bonds to yield 10% on January 1, 2022. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16413443. If the straight-line method of amortization is used, what carrying value will be reported for the bonds on the December 31, 2024 balance sheet? O $16169870 O $16497131 $16742984 O $16456427

A company issues $16700000, 9.8%, 20-year bonds to yield 10% on January 1, 2022. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16413443. If the straight-line method of amortization is used, what carrying value will be reported for the bonds on the December 31, 2024 balance sheet? O $16169870 O $16497131 $16742984 O $16456427

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company issues $16700000, 9.8%, 20-year bonds to yield 10% on January 1, 2022. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16413443. If the straight-line method of amortization is used, what carrying value will be reported for the bonds on the December 31, 2024 balance sheet? $16169870 $16497131 $16742984 O $16456427
Transcribed Image Text:A company issues $16700000, 9.8%, 20-year bonds to yield 10% on January 1, 2022. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16413443. If the straight-line method of amortization is used, what carrying value will be reported for the bonds on the December 31, 2024 balance sheet? $16169870 $16497131 $16742984 O $16456427
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