S7-11 (similar to) Sonic Industries Ltd. borrowed money by issuing a $90,000 6.9%, 10-year bond. Assume the issue price was 98 on August 1, 2020. 1. How much cash did Sonic Industries receive when it issued the bond? 2. How much must Sonic Industries pay back at maturity? When is the maturity date? 3. How much cash interest will Sonic Industries pay each six months? Carry the interest amount to the nearest cent. 4. How much interest expense will Sonic Industries report each six months? Assume the straight-line amortization method, and carry the interest amount to the nearest cent. 1. How much cash did Sonic Industries receive when it issued the bond? Sonic Industries received $ when the bond payable was issued. Enter your answer in the answer box and then click Check Answer 4 parts remaining Cloa