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Question - On February 1, 20X2, Jelico Inc. issued 20-year, semi-annual bonds that pay interest at 7% per year in the market. On this date, Riku Inc. paid $1,125,000 to acquire $1,000,000 of these newly issued bonds from Jelico. Interest on the bonds is paid semi-annually on July 31 and January 31. Riku intends to hold on to the bonds to receive the semi-annual interest payments.
What is the effective rate of interest per period on the bonds?
a) 2.9625%
b) 3.3644%
c) 3.5000%
d) 3.6430%
If the company can earn 8 percent per annum on freed-up funds, how much will the income be? How many dollars will the cash management system free up?
Husain, Inc.'s income statement and other financial information for the current year is presented below. Perform vertical analysis of the income statement
Journalize the entries to record the foregoing transactions. Round all amounts to the nearest dollar
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Alpha company provided the following data concerning its income statement: sales, $865,000; How much is net income
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