On July 1, 20X2, Wild World Inc. sold (issued) 300, $1,000, ten-year, 7% bonds at 101. The bonds were dated July 1, 20X2, and semi-annual interest will be paid each December 31 and June 30. Wild World uses straight-line amortization. What is the bond liability that would be reported on the statement of financial position at December 31, 20X2?
A) $300,000
B) $302,700
C) $302,850
D) $303,000
Correct Answer:
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