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Question -
A) On January 1, 2021, $1040000, 5-year, 7% bonds, were issued for $997819. The interest rate in effect when the bonds were issued was 8%. Interest is paid semi-annually on January 1 and July 1. How much interest is paid at each interest payment date?
a. $72800
b. $83200
c. $36400
d. $41600
B) Swifty Corporation issues 1,000, 10-year, 6%, $1000 bonds dated January 1, 2021, at 98. The journal entry to record the issue will show a
a. debit to Cash for $980000.
b. debit to Cash for $1000000.
c. credit to Bonds Payable for $1000000.
d. credit to Discount on Bonds Payable for $20000.
Which of the following statements is false? (a) Receivables include equity securities purchased by the company.
What the carrying amount of the loan as of December 31, 2020 is?LLB Bank granted a loan to a borrower in the amount of P5,000,000 on January 1, 2020.
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london purchased a piece of real estate last year for 82200. the real estate is now worth 103400. if london needs to
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