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Find the carrying value of the bond liability on December

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Reference no: EM132600528

Question - Victor Company issued bonds with a $675,000 face value and a 5% stated rate of interest on January 1, Year 1. The bonds carried a 5-year term and sold for 96. Victor uses the straight-line method of amortization. Interest is payable on December 31 of each year. Find the carrying value of the bond liability on the December 31, Year 3 balance sheet?

Reference no: EM132600528

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