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Compute the bond carrying value as of december

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Question

The Cinci Company issues $100,000, 10% bonds at 105 on September 1, 2020. The bonds are dated January 1, 2020 and mature ten years from that date.

Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2027.

Reference no: EM132319316

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