On December 31, 20A, Dive Company sold $100,000, ten-year, 8% bonds at 104.5. The bonds were dated January 1, 20A, and interest is payable each June 30 and December 31. The company uses the straight-line amortization method. The company should report the long-term liability (carrying value) for the bonds on the December 31, 20A, statement of financial position as which of the following?
A) $104,500
B) $100,000
C) $104,000
D) $103,400
Correct Answer:
Verified
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