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What is the carrying amount of the bonds at December

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Question - On June 30, Year 1, Block Co. acquired $100,000 face amount, 3-year, 9% bonds of Blue Co. for $102,380, including accrued interest. The bonds were issued to yield 10% and mature on December 31, Year 3. Interest is paid annually on December 31.

What is the carrying amount of the bonds at December 31, Year 2, if the effective-interest method is used?

A. $100,000

B. $99,101

C. $98,274

D. $97,880

Reference no: EM132270455

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