On January 1, 2010, Jacob issues $930,000 of 9%, 11 year bonds at a price of 96. All interest is accounted for and paid through December 31,2015, the…
On January 1, 2010, Jacob issues $930,000 of 9%, 11 year bonds at a price of 96.5. All interest is accounted for and paid through December 31,2015, the day before the purchase. The straightline is used to amortize any bond discount. What is the carrying value of the bond on January 1, 2016?
You must show all work.
A. 915,210
B. 897,450
C. 963,390
D. 912,240
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