On February 1, 2019, Leary Corporation issued 5-year bonds dated January 1, 2019, with a par value of $500,000 at 101 plus accrued interest. The bonds carry a stated rate of 4% and pay interest semi-annually on January 1 and July 1 beginning July 1, 2019. How much cash was received by Leary Corp. from the bondholders on Febuary 1,2019?

A government, municipality, company, or other entity may issue a bond payable, also referred to as a…

Answered: On February 1, 2019, Leary Corporation issued 5-year bonds dated January 1, 2019, with a par value of $500,000 at 101 plus accrued interest. The bonds carry a…

FINANCIAL ACCOUNTING

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Author: Libby

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Question

Hh1.

On February 1, 2019, Leary Corporation issued 5-year bonds dated January 1, 2019, with a par value of $500,000 at 101 plus
accrued interest. The bonds carry a stated rate of 4% and pay interest semi-annually on January 1 and July 1 beginning July
1, 2019.
How much cash was received by Leary Corp. from the bondholders on Febuary 1,2019?

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