Nicholas Smith Fitness Gym has $700,000 of 20-year bonds payable outstanding. These bonds had a discount of

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Nicholas Smith Fitness Gym has $700,000 of 20-year bonds payable outstanding.

These bonds had a discount of $56,000 at issuance, which was 10 years ago. The company uses the straight-line amortization method. The current carrying amount of these bonds payable is

a. $672,000.

b. $644,000.

c. $700,000.

d. $728,000.

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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Question Posted: Feb 02, 2024 05:01 AM

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Nicholas Smith Fitness Gym has $700,000 of 20-year bonds payable outstanding. These bonds had a discount of

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Horngrens Financial And Managerial Accounting The Managerial Chapters

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