Question
Sandhill Co. issued 8%, 9-year, $2,618,600 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1,
Sandhill Co. issued 8%, 9-year, $2,618,600 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2017, and are issued on that date. The discount rate of interest for such bonds on April 1, 2017, is 8%. What cash proceeds did Sandhill receive from issuance of the bonds?
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Accounting For Investments Fixed Income Securities And Interest Rate Derivatives Volume 2
Authors: R. Venkata Subramani
1st Edition
047082591X, 978-0470825914
