N. Chocolate Company was authorized to issue 12% bonds with face amount of P5,000,000 on April 1, 2020. Interest on the bonds is payable semiannually on April 1 and October 1. Bonds mature on April 1, 2025. The entire issue was sold on April 1, 2020 at 97 less bond issue cost of P50,000. 18. What is the net cash received from the bond issuance?

N. Chocolate Company was authorized to issue 12% bonds with face amount of P5,000,000 on April 1, 2020. Interest on the bonds is payable semiannually on April 1 and October 1. Bonds mature on April 1, 2025. The entire issue was sold on April 1, 2020 at 97 less bond issue cost of P50,000. 18. What is the net cash received from the bond issuance?

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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