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On April 1, year 1, Cricket Corporation issues $30 million of 6%, 8-year bonds payable at par. Interest on the bonds is payable semiannually each
On April 1, year 1, Cricket Corporation issues $30 million of 6%, 8-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1.
The amount of cash paid to bondholders for interest during Year 1, is:
Multiple Choice
$900,000.
$450,000.
$1,800,000.
$1,350,000.
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