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On January 2, Vole Co. issued bonds with a face value of $480,000 at a discount to yield 10%. The bonds pay interest semiannually. On
| On January 2, Vole Co. issued bonds with a face value of $480,000 at a discount to yield 10%. The bonds pay interest semiannually. On June 30, Vole paid bond interest of $14,400. After Vole recorded amortization of the bond discount of $3,600, the bonds had a carrying amount of $363,600. What amount did Vole receive upon issuing the bonds? | |
| A. | $367,200 |
| B. | $476,400 |
| C. | $360,000 |
| D. | $480,000 |
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Cost Management A Strategic Emphasis
Authors: Edward Blocher, David E. Stout, Gary Cokins, Kung Chen
4th Edition
0073128155, 978-0073128153
