Homework Answers
Correct answer---------(d) $642,000
Working
| Issue price of bond | (600000/100 x 105) | $ 630,000.00 |
| Accrued interest for 3 months | [(600000 x 8%)/12 x 3] | $ 12,000.00 |
| Total cash received on issue of bond | $ 642,000.00 | |
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