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What is the carrying value of the bonds on january

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Problem 1: Wildhorse Co. received proceeds of $1003500 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $1064000, pay interest annually on December 31, and have a call price of 104. Wildhorse uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2021?

a. $1064000
b. $1015600
c. $1009550
d. $1051900

Reference no: EM132746327

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