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Bonds with a stated interest rate of 9% and a face value totaling $600,000 were...

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Accounting

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Bonds with a stated interest rate of 9% and a face value totaling $600,000 were issued for $624,000 on January 1, 2018, when the market interest rate was 8%. The company uses effective-interest bond amortization. Required: Determine the carrying value of the bonds at December 31, 2019. Round your answer to nearest whole dollar.) Carrying Value $ 615,514

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