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What is the carrying value of the bonds reported in December

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Question - On January 1, 2021, Solo Inc. issued 1,400 of its 7%, $1,000 bonds at 97.9. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1, 2031. Solo paid $50,000 in bond issue costs. Solo uses straight-line amortization.

Required - What is the carrying value of the bonds reported in the December 31, 2021, balance sheet?

Reference no: EM132519898

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