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What is carrying value of bonds on december for sheridan co

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Problem 1: Sheridan Company received proceeds of $812000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $770000, pay interest annually on December 31, and have a call price of 106. Sheridan uses the straight-line method of amortization. What is the carrying value of the bonds on December 31, 2021?

Option 1: $770000
Option 2: $803600
Option 3: $736400
Option 4: $807800

Reference no: EM132751105

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