(Answered) Question - five years ago ellas issued 10-year 1000000

Accounting

Question - Five years ago, Ella's issued 10-year $1,000,000 bonds. At issuance, the bonds had a discount of $80,000. Ella's uses the straight line method of amortization. What is the carrying amount of the bonds today (after five full years)?

$1,000,000

$920,000

$960,000

None of the other alternatives are correct

$1,040,000

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