Question 5 (1 point) Bonds with a face value of $10,000,000 were issued at 1.03. The bonds were issued at a discount The contract rate of interest was less than the market rate of interest The company received $9,700,000 in cash The bonds were issued at a premium Question 6 (1 point) A company sells common stock with a par value of $7 for $45. Which of the following is true? The transaction is illegal, because the company cannot sell the stock for more than the par value of $7. The common stockholders are guaranteed to receive an annual dividend of at least $7 The $7 par will be shown on the balance sheet with the Common Stock account in stockholders' equity