On January 1, 2007, Alberta Corp. issued $700, 000, 9%, 10 year bonds. Interest is paid semi-annually on June 30 and December 31.The effective rate is 8%. What is the price of the bond? Multiple Choice $700, 000 $630, 000 $560, 000 What account is credited for accrued interest when bonds are sold by an issuer between interest payment dates?(CGA FA3-Dec 99) Multiple Choice Bonds payable Interest payable Interest revenue