On July 1, 2025, Reliable Services issued $52,000 of 11% bonds that mature in five years for $64,000. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2025, what is the total amount paid to bondholders? O $5,720 O $3,520 O $2,860 O $7,040

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On July 1, 2025, Reliable Services issued $52,000 of 11% bonds that mature in five years for $64,000. The bonds pay semiannual interest payments on June 30
and December 31 of each year. On December 31, 2025, what is the total amount paid to bondholders?
$5,720
$3,520
$2,860
$7,040
Transcribed Image Text:On July 1, 2025, Reliable Services issued $52,000 of 11% bonds that mature in five years for $64,000. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2025, what is the total amount paid to bondholders? $5,720 $3,520 $2,860 $7,040
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