On July 1, 2020, Kwek-kwek Company issued 600 of its 10%, P1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2020 and mature on April 1, 2029. Interest is payable semi-annually on April 1 and October 1. What amount did Kwek-kwek Company receive from the bond issuance? A. 579,000 B. 594,000 C. 609,000 D. 600,000

On July 1, 2020, Kwek-kwek Company issued 600 of its 10%, P1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2020 and mature on April 1, 2029. Interest is payable semi-annually on April 1 and October 1. What amount did Kwek-kwek Company receive from the bond issuance? A. 579,000 B. 594,000 C. 609,000 D. 600,000

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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