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

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 2 years ago

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