N. Chocolate Company was authorized to issue 12% bonds with face amount of P5,000,000 on April 1, 2020. Interest on the bonds is payable semiannually on April 1 and October 1. Bonds mature on April 1, 2025. The entire issue was sold on April 1, 2020 at 97 less bond issue cost of P50,000. 18. What is the net cash received from the bond issuance?

N. Chocolate Company was authorized to issue 12% bonds with face amount of P5,000,000 on April 1, 2020. Interest on the bonds is payable semiannually on April 1 and October 1. Bonds mature on April 1, 2025. The entire issue was sold on April 1, 2020 at 97 less bond issue cost of P50,000. 18. What is the net cash received from the bond issuance?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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