Sandhill Enterprises issued 6%, 8-year, $2,600,000 bonds that pay interest annually on April 1. The bonds are dated April 1, 2022, and are issued on that date. The discount rate for such bonds on April 1, 2022, is 8%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Sandhill receive from issuance of the bonds? (Round answer to O decimal places, e.g. 125.) Cash proceeds from issuance of the bonds tA $ 2392000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 4EB: Chung Inc. issued $50,000 of 3-year bonds on January 1, 2018, with a stated rate of 4% and a market...
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Sandhill Enterprises issued 6%, 8-year, $2,600,000 bonds that pay interest annually on April 1. The
bonds are dated April 1, 2022, and are issued on that date. The discount rate for such bonds on
April 1, 2022, is 8%.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
What cash proceeds did Sandhill receive from issuance of the bonds? (Round answer to O decimal
places, e.g. 125.)
Cash proceeds from issuance of the bonds
tA
$
2392000
Transcribed Image Text:Sandhill Enterprises issued 6%, 8-year, $2,600,000 bonds that pay interest annually on April 1. The bonds are dated April 1, 2022, and are issued on that date. The discount rate for such bonds on April 1, 2022, is 8%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Sandhill receive from issuance of the bonds? (Round answer to O decimal places, e.g. 125.) Cash proceeds from issuance of the bonds tA $ 2392000
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