The entity purchased 6,000,000 12% bonds on January 1,2021. The interest is payable annually. The bond indenture indicates that the bonds must be payable for 3 equal annual installment starting Dec.31,2021. The effective interest of the bond is 14%. How much is the carrying amount of the bonds at December 31,2021? Group of answer choices 4,000,000 3,899,045 3,907,320 3,800,000

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Q: The entity purchased 6,000,000 12% bonds on January 1,2021. The interest is payable annually. The…

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A:

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Q: (The following information applies to the questions displayed below.] On January 1, 2019, Drennen…

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