On October 1, 2020, Moray Ltd. purchased 500 of the $ 1,000 face value, 8% bonds of Eel Ltd. for $ 585,000, including accrued interest of $ 10,000. The bonds, which mature on January 1, 2027, pay interest semi-annually on January 1 and July 1. Moray used the straight-line method of amortization and appropriately recorded the bonds as long-term. On Moray's December 31, 2021 balance sheet, the carrying value of the bonds would be

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The Answer of On October 1, 2020, Moray Ltd. purchased 500 of the $ 1,000 face value, 8% bonds of Eel Ltd. for $ 585,000, including accrued interest of $ 10,000. The bonds, which mature on January 1, 2027, pay interest semi-annually on January 1 and July 1. Moray used the straight-line method of amortization and appropriately recorded the bonds as long-term. On Moray's December 31, 2021 balance sheet, the carrying value of the bonds would be