On April 1, 2020, Greg Company issued, at 99. plus accrued interest, 4,000 8% bonds with face amount of P1,000 per bond. The bonds are dated January 1, 2020, mature on January 1, 2030, and pay interest on January 1 and July 1. The entity paid bond issue cost of P140,000. How much cash was received from the bond issuance? a. 4,040,000 b. 3,960,000 c. 3,900,000 d. 3,820,000
On April 1, 2020, Greg Company issued, at 99. plus accrued interest, 4,000 8% bonds with face amount of P1,000 per bond. The bonds are dated January 1, 2020, mature on January 1, 2030, and pay interest on January 1 and July 1. The entity paid bond issue cost of P140,000. How much cash was received from the bond issuance? a. 4,040,000 b. 3,960,000 c. 3,900,000 d. 3,820,000
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 5MC: On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond of $6,000...
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