simple7228 simple7228

27-05-2023
Business

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On January 1st 2022, Old Dominion issues a $1,000 par bond payable with an annual interest rate of 5% and a 3 year life. When the bond was issued the company received $1,000 cash. On the company's 2023 balance sheet (the second year), what will the carrying value of the bond be?

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