220. Sunwood Company issued $1,200,000 of 6%, 5-year bonds at 98, with interest paid annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year?
A) $1,176,000
B) $1,178,400
C) $1,180,800
D) $1,185,600
Correct Answer:
Verified
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