Question
On July 1, 2021, Sunland Company issued 3700 of its 11%, $1,000 bonds at 98 plus accrued interest. The bonds are dated April 1, 2021
On July 1, 2021, Sunland Company issued 3700 of its 11%, $1,000 bonds at 98 plus accrued interest. The bonds are dated April 1, 2021 and mature on April 1, 2031. Interest is payable semiannually on April 1 and October 1. What amount did Sunland receive from the bond issuance?
$3526000
$3700000
$3626000
$3727750
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
