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Savvy Drive-ins borrowed money by issuing $1,000,000 of 10% bonds payable at 90.5. Interest is paid semiannually Requirements 1. How much cash did Savvy receive
Savvy Drive-ins borrowed money by issuing $1,000,000 of 10% bonds payable at 90.5. Interest is paid semiannually Requirements 1. How much cash did Savvy receive when it issued the bonds payable? 2. How much must Savvy pay back at maturity? 3. How much cash interest will Savvy pay each six months? Requirement 1. How much cash did Savvy receive when it issued the bonds payable? Savvy received $ when the bonds payable were issued
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