Find bonds should be reported in the december

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Reference no: EM132667280

Problem 1: On October 1, 2010, Renfro Co. purchased to hold to maturity, 1,000, $1,000, 9% bonds for $990,000 which includes $15,000 accrued interest. The bonds, which mature on February 1, 2019, pay interest semiannually on February 1 and August 1. Renfro uses the straight-line method of amortization. The bonds should be reported in the December 31, 2010 balance sheet at a carrying value of

a. $975,000.

b. $975,750.

C. $990,000.

d. $990,250.

Reference no: EM132667280

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