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Pharoah Company received proceeds of $619000 on 10-year, 6% bonds issued on January 1, 2019....

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Accounting

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Pharoah Company received proceeds of $619000 on 10-year, 6% bonds issued on January 1, 2019. The bonds had a face value of $656000, pay interest annually on December 31, and have a call price of 105. Pharoah uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2021? $656000 O $626400 O $648600 O $622700

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