On April 1, 2019, Company Y issued a 10-year bond for $5,265,750. The bonds have a stated rate of 5% and pay interest semi- annually on 01/01 and 01/07. The bonds were issued at 102. How much was the face value of the bonds?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 7EA: On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The...
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On April 1, 2019, Company Y issued a 10-year bond for $5,265,750. The bonds have a stated rate of 5% and pay interest semi- annually on 01/01 and 01/07. The bonds were issued at 102. How much was the face value of the bonds?
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