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Drive-Ins borrowed money by issuing $4,000,000 of 6% of bonds payable at 98.5. Interest is paid semiannually Requirements 1. How much cash did Superb receive
Drive-Ins borrowed money by issuing $4,000,000 of 6% of bonds payable at 98.5. Interest is paid semiannually
Requirements 1. How much cash did Superb receive when it issued the bonds payable? 2. How much must Superb pay back at maturity? 3. How much cash interest will Superb pay each six months? Requirement 1. How much cash did Superb receive when it issued the bonds payable? Amount of cash Superb received when the bonds payable were issued = Requirement 2. How much must Superb pay back at maturity? At maturity, Superb must pay back Requirement 3. How much cash interest will Superb pay each six months? Every six months, Superb will pay interest of
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