if 608,000 of 9% bonds are issued at 95 the amount of cash received from the...

if 608,000 of 9% bonds are issued at 95 the amount of cash received from the sale is

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Expert Solution

Answer)

Calculation of Cash received on Sale of bonds

Cash received on sale of bonds = (Face value of bonds/ $ 100) X Issue price

= ($ 608,000/ $ 100) X $ 95

= $ 577,600

Therefore cash received on sale of bonds is $ 577,600.

ekkarill92 answered 1 year ago

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