On January 1, 2022, Wilco Inc. sells bonds with a face value of $1,000,000 for...
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On January 1, 2022, Wilco Inc. sells bonds with a face value of $1,000,000 for $960,072.90. The stated rate on the bonds is 7% and the yield is 8%. The bonds mature on January 1, 2027 with interest payable on December 31 each year. Wilco uses the effective interest method to account for bonds. What will the carrying value of the bonds be on January 1, 2023
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