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A corporation issues $40,000,000 of 6% bonds to yield an effective interest rate of 8% Was the amount of cash received from the sale of
A corporation issues $40,000,000 of 6% bonds to yield an effective interest rate of 8%
- Was the amount of cash received from the sale of the bonds more or less than $40,000,000?
- Identify the following amounts related to the bond issue: (1) face amount, (2) market rate of interest, (3) contract rate of interest, and (4) maturity amount.
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Accounting For Managers And Entrepreneurs
Authors: Charles T. Horngren
8th Edition
1269778684, 9781269778688
