How much cash was received from the bond issuance

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Reference no: EM132806641

Problem 1: On April 1, 2020, Greg Company issued, at 99 plus accrued interest, 6,000 of 8% P1,000 bonds. The bonds are dated January 1, 2020, mature on January 1, 2030, and pay interest on January 1 and July 1. The entity paid bond issue cost of P210,000. How much cash was received from the bond issuance?

a. 5,730,000
b. 5,850,000
c. 6,060,000
d. 5,940,000

Reference no: EM132806641

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