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Porter Corp issued the following bond at 95: Maturity amount and date: $160,000 due in...

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Question

Accounting

Porter Corp issued the following bond at 95:

Maturity amount and date: $160,000 due in 10 years

Interest: 10 percent per year payable each December 31

Determine the carrying value reported on the balance sheet at the issue date.

Multiple Choice

$160,000

$155,000

$152,000

$165,000

Answer & Explanation Solved by verified expert
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