What will be carrying value on the bonds on january one, Financial Accounting

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What will be carrying value on the bonds on january one

Problem

On January 1, 2022, Wilco Inc. sells bonds with a face value of $100,000 for $89,000. The stated rate on the bonds is 8% and the yield is 10%. 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 be carrying value on the bonds on January 1, 2023?

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Financial Accounting: What will be carrying value on the bonds on january one

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