Question
On april 1, rio company issued at 99 plus accrued interest, 4000 8% bonds with face amount of P1000 per bond. the bonds are dated
On april 1, rio company issued at 99 plus accrued interest, 4000 8% bonds with face amount of P1000 per bond. the bonds are dated January 1, 2020, mature on January 1, 2030, and pay interest on January 1 and July 1. The entry paid bond issue cost of 140 000.
HOW MUCH CASH WAS RECEIVED FROM THE BOND PAYABLE?
A. 3 820 000
B. 3 960 000
C. 4 040 000
D. 3 900 000
E. NONE
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Cornerstones Of Cost Accounting
Authors: Don Hansen, Maryanne M. Mowen
1st Edition
053873678X, 978-0538736787
