What was received upon issuance of the bonds

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Reynolds Corporation issues $500,000 of five-year, 8 percent bonds at 102. Interest is paid semiannually. Assume that the market rate for similar investments is 7 percent and that the bonds are issued on an interest date.

Problem 1: $___________________ was received upon issuance of the bonds.

Problem 2: $___________________ total interest is paid each interest period.

Problem 3: $___________________ represents the bond interest expense, including amortization of discount or premium, and is to be recorded on the first interest date (after the issue date).

Problem 4: $__________________ is the carrying value of the bonds after the first interest date (after the issue date).

Reference no: EM132951081

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