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Benton Company issues $10,000,000 of 10-year, 8% bonds on April 1, 2025 at 95 plus accrued interest. The bonds are dated January 1, 2025,
Benton Company issues $10,000,000 of 10-year, 8% bonds on April 1, 2025 at 95 plus accrued interest. The bonds are dated January 1, 2025, and pay interest on June 30 and December 31. What is the total cash received on the issue date? Oa. $9,700,000 O b. $10,200,000 O c. $9,850,000 O d. $9,766,667 Oe $10,000,000
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International Financial Reporting and Analysis
Authors: David Alexander, Anne Britton, Ann Jorissen
5th edition
978-1408032282, 1408032287, 978-1408075012
