Question
In the following question, what does the 94 plus accrued interest mean? On March 1, 2018, Jenkins Co. issued at 94 plus accrued interest $9,000,000,
In the following question, what does the 94 plus accrued interest mean?
On March 1, 2018, Jenkins Co. issued at 94 plus accrued interest $9,000,000, 9% bonds. The bonds are dated My pay interest semiannually on July 1 and January 1. In addition, Jenkins Co. incurred $59,400 of bond issuance costs. Compute the net amount of cash received by Jenkins Co. as a result of the issuance of these bonds.
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Management Accounting
Authors: Late RC Sekhar, AV Rajagopalan
1st Edition
195683609, 978-0195683608
