Question
Cech Corporation issued $800,000 of 8% bonds on October 1, 2010, due on October 1, 2015. The interest is to be paid once a year
Cech Corporation issued $800,000 of 8% bonds on October 1, 2010, due on October 1, 2015. The interest is to be paid once a year on October 1. The bonds were sold to yield 10% effective annual interest. Cech Corporation closes its books annually on December 31. On October 1, 2010, Cech will receive:
A.$800,000
B.$778,653
C.$759,616
D.$739,347
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
