Answered: If $949,000 of 8% bonds are issued at…

If $949,000 of 8% bonds are issued at 102 3/4, the amount of cash received from the sale is a.$1,024,920 b.$711,750 c.$949,000 d.$975,098

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If $949,000 of 8% bonds are issued at 102 3/4, the amount of cash received from the sale is

a.$1,024,920

b.$711,750

c.$949,000

d.$975,098

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