Answered: Eddie Industries issues $926,000 of 8%…

Eddie Industries issues $926,000 of 8% bonds at 102. The amount of cash received from the sale is a.$926,000 b.$1,000,080 c.$898,220 d.$944,520

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 7EB: Willoughby Inc. issued 100 bonds with a face value of $1,000 and a stated rate of 4% and received...

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Question

Eddie Industries issues $926,000 of 8% bonds at 102. The amount of cash received from the sale is

a.$926,000

b.$1,000,080

c.$898,220

d.$944,520

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