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Joseph Inc. issues $2,000,000 of 10-year, 9% bonds on March 1, 2020 at 97 plus accrued interest. The bonds are dated January 1, 2020, and
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Joseph Inc. issues $2,000,000 of 10-year, 9% bonds on March 1, 2020 at 97 plus accrued interest.
The bonds are dated January 1, 2020, and pay interest on June 30 and December 31. What is the total cash
received on the issue date?
$1,970,000
$2,400,000
$180,000
$197,000
Joseph Inc. issues $2,000,000 of 10-year, 9% bonds on March 1, 2020 at 97 plus accrued interest.
The bonds are dated January 1, 2020, and pay interest on June 30 and December 31. What is the total cash
received on the issue date?
| $1,970,000
| ||
| $2,400,000
| ||
| $180,000
| ||
| $197,000
|
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