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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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Edition
047116920X, 978-0471169208
