On January 1, Banner Corporation issues $1,000,000, 10-year, 10% bonds at 105 with interest payable...
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Accounting
On January 1, Banner Corporation issues $1,000,000, 10-year, 10% bonds at 105 with interest payable on January 1. The carrying value of the bonds, using straight-line amortization, at the end of the second interest period is:
a. $960,000.
b. $1,000,000.
c. $1,040,000.
d. $1,050,000.
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