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For each independent case below. Determine the net amount of cash received from the bond issuance. On October 1, 2021, Shane Company issued 5.000 of
For each independent case below. Determine the net amount of cash received from the bond issuance. On October 1, 2021, Shane Company issued 5.000 of the P1,000 face value, 12% bonds at 110 including accrued interest. The bonds which mature on January 1, 2026 pay interest semi-annually every January 1 and July 1. In addition, Shane Company incurred printing and engraving costs of P20,000; legal and accounting fees of P75,000; registration fees of P35,000; and underwriter's commission of P15,000. Your answer On April 1, 2021, Cain Company issued at 105 plus accrued interest 4,000 of its 9%, P1,000 face value bonds. The bonds are dated January 1, 2021 and mature on January 1, 2021. Interest is paid semi-annually on January 1 and July 1. Cain paid bond issue costs of 150,000. As Your answer On July 1, 2022, Mercurial Company issued at 98 plus accrued interest 2,500 of its 11%, P1,000 face value bonds. The bonds are dated March 1, 2022 and mature on March 1, 2027. Interest is paid semi-annually on March 1 and September 1. The issue price included bond issue costs of P50,000. Your
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