If $638,000 of 9% bonds are issued at 97, what is the amount of cash received...

Question

Question

If $638,000 of 9% bonds are issued at 97, what is the amount of cash received from the sale?

Select the correct answer.

$638,000

$618,860

$695,420

$580,580

business accounting

Answer 1

Answer #1

Cash received from the sale would be =$638,000*Issue proceeds

=638,000*97%

which is equal to

=$618860

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Answer 2

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