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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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