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Carly Corporation issued $300,000 of 30-year, 8% bonds at 106 on January 1, 2016. Interest is pay…

by Essaynice Tutors | Sep 9, 2023 | accounting

Carly Corporation issued $300,000 of 30-year, 8% bonds at 106 on
January 1, 2016. Interest is payable semiannually on June 30th and
December 31st. The straight-line method of amortization is to be
used. After 11 interest payments have been made, what is the
carrying value of the bonds?

Select one:
a. $306,600
b. $311,400
c. $303,300
d. $314,700
e. $315,800