Question
On July 1, 2020, Markham Corp. issued $800,000, 4% bonds at 98 plus accrued interest. The bonds are dated April 1, 2020 and mature on
On July 1, 2020, Markham Corp. issued $800,000, 4% bonds at 98 plus accrued interest. The bonds are dated April 1, 2020 and mature on April 1, 2027. Interest is payable semi-annually on April 1 and October 1. How much did Markham receive from the bond issuance?
a) 792,000
b) 784,000
c) 776,000
d) 800,000
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Accounting and Finance An Introduction
Authors: Peter Atrill, Eddie McLaney
8th edition
129208829X, 1292088297, 978-1292088297
