How much money did the def corporation receive

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Problem 1: On June 30, 1993, the DEF Corporation sold bonds with a face value of $100,000. The contract rate of bond interest was 9% with interest payments on December 31 and June 30. the bonds mature in 10 years. When the bonds were sold, the market rate of bond interest was 12%. How much money did the DEF Corporation receive when it sold the bonds?

a) $119,252
b) $110,042
c) $100,000
d) $ 82,795

prepare the accounting entry for the interest payments on both December 31 1993 and June 30 1994

Reference no: EM132734276

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