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Find the carrying value of the bonds on the december

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Wayne Company issued bonds with a face value of $750,000, a 10% stated rate of interest, and a 10-year term. The bonds were issued on January 1, Year 1, and Wayne uses the straight-line method of amortization. Interest is paid annually on December 31.

Question 1: Assuming Wayne issued the bonds for 106, the carrying value of the bonds on the December 31, Year 1 balance sheet would be:

Reference no: EM132647685

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