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Question(s) / Instruction(s):

Winrow Company received proceeds of $94,250 on 10-year, 8% bonds issued on January 1, 2009. The bonds had a face value of $100,000, pay interest annually on December 31st, and have a call price of 101. Winrow uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2011?

A.            $94,825

B.            $100,000

C.            $95,400

D.            $98,850

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