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?

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?

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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