6. MC.11.166 If $1,000,000 of 8% bonds are issued at 98 1/2, the amount of cash received from the sale is a. $985.000 b. S1.000.000 C$1,080.000 d. $1.027.500 7. EX 11.173 Cramer Corp. issued $20,000,000 of 5-year, 9% bonds at a market (effective) interest rate of 10%, receiving cash of $19,227,757. Interest on the bonds is payable semiannually. Journalize the entry to record the first semiannual interest payment, and the amortization of the bond discount, using the interest method? If an amount box does not require an entry, leave it blank. If required, round your answers to nearest whole dollar.
6. MC.11.166 If $1,000,000 of 8% bonds are issued at 98 1/2, the amount of cash received from the sale is a. $985.000 b. S1.000.000 C$1,080.000 d. $1.027.500 7. EX 11.173 Cramer Corp. issued $20,000,000 of 5-year, 9% bonds at a market (effective) interest rate of 10%, receiving cash of $19,227,757. Interest on the bonds is payable semiannually. Journalize the entry to record the first semiannual interest payment, and the amortization of the bond discount, using the interest method? If an amount box does not require an entry, leave it blank. If required, round your answers to nearest whole dollar.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 7
Transcribed Image Text:6. MC.11.166
If $1,000,000 of 8% bonds are issued at 98 1/2, the amount of cash received from the sale is
a. $985,000
b. $1,000,000
c. $1,080,000
O d. $1,027,500
7. EX.11.173
Cramer Corp. issued $20,000,000 of 5-year, 9% bonds at a market (effective) interest rate of 10%, receiving cash of $19,227,757. Interest on the bonds is payable semiannually. Journalize the entry to record the first semiannual interest payment, and the amortization of the bond discount, using the interest method?
If an amount box does not require an entry, leave it blank. If required, round your answers to nearest whole dollar.
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