Bonita Industries issues $30900000 of 10-year, 7% bonds on March 1, 2020, at 96 plus accrued interest. The bonds are dated January 1, 2020, and pay interest on June 30 and December 31. What is the total cash received on the issue date? $29664000 $30925750 $30024500 $29124500
Bonita Industries issues $30900000 of 10-year, 7% bonds on March 1, 2020, at 96 plus accrued interest. The bonds are dated January 1, 2020, and pay interest on June 30 and December 31. What is the total cash received on the issue date? $29664000 $30925750 $30024500 $29124500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Bonita Industries issues $30900000 of 10-year, 7% bonds on March 1, 2020, at 96 plus accrued interest. The bonds are dated January 1, 2020, and pay interest on June 30 and December 31. What is the total cash received on the issue date?
|
$29664000 |
|
$30925750 |
|
$30024500 |
|
$29124500 |
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