Question
On October 1, 2021, Shane Company issued 5,000 12% bonds with face amount of P1,000 per bond at 110. The bonds which mature on January
On October 1, 2021, Shane Company issued 5,000 12% bonds with face amount of P1,000 per bond at 110. The bonds which mature on January 1, 2026, pay interest semiannually on January 1 and July 1. The entity paid bond issue cost of P200,000.
How much was received from the issuance of the bonds?
5,650,000 | ||
5,300,000 | ||
5,450,000 | ||
5,550,000 |
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A Issue value 5000 bonds P1000 110 5500000 bond issue cost 2000...
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
