214. Jarmin Company received proceeds of $377,000 on 10-year, 8% bonds issued on January 1, 2017. The bonds had a face value of $400,000, pay interest annually on June 30 and December 31, and have a call price of 101. Jarmin uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2019?
A) $400,000
B) $381,600
C) $395,400
D) $379,300
Correct Answer:
Verified
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