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What is the net cash received for abc company

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Reference no: EM132740156

Problem 1: On April 1, 2018, ABC Company issued at 99 plus accrued interest 2,000 at 8% P1,000 face value bonds. The bonds are dated January 1, 2018, mature on January 1, 2028, and pay interest on January 1 and July 1. The entity paid bond issue cost of P70,000. From the bond issuance, what is the net cash received?

a. 2,020,000

b. 1,980,000

c. 1,950,000

d. 1,910,000

e. None of the choices

Reference no: EM132740156

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