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On January 1, Grogan Corporation Issues $1,000,000, 5-Year, 12% Bonds

Question 67

Multiple Choice

On January 1, Grogan Corporation issues $1,000,000, 5-year, 12% bonds at 96 with interest payable on July 1 and January 1. The carrying value of the bonds at the end of the third interest period is:


A) $972,000
B) $976,000
C) $944,000
D) $928,000

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