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What amount should bonds payable be credit for

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Question - Sebas Company issues $15,000,000, 7%, 5-year bonds dated July 1, 2017 on July 1, 2017. The bonds pay interest semiannually on December 31 and June 30. The bonds are issued to yield 6%.

1. What amount should bonds payable be credit for?

2. What are the proceeds from the bond issue that Sebas Company will receive?

3. What is the amount of coupon/interest that Sebas Company will pay semiannually to bondholders?

Reference no: EM133157681

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