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Business, 04.11.2020 18:10 mdakane3772

Wayne Company issued bonds with a face value of $990,000, a 11% stated rate of interest, and a 10-year term. The bonds were issued on January 1, Year 1, and Wayne uses the straight-line method of amortization. Interest is paid annually on December 31. Assuming Wayne issued the bonds for 104, the carrying value of the bonds on the December 31, Year 1 balance sheet would be:

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