On January 2, Vole Co. issued bonds with a face value of...
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Accounting
On January 2, Vole Co. issued bonds with a face value of $480,000 at a discount to yield 10%. The bonds pay interest semiannually. On June 30, Vole paid bond interest of $14,400. After Vole recorded amortization of the bond discount of $3,600, the bonds had a carrying amount of $363,600. What amount did Vole receive upon issuing the bonds?
A.
$367,200
B.
$476,400
C.
$360,000
D.
$480,000
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