If $500,000 of 8% bonds are issued at 102, the amount of cash received from the sale is:

Question

If $500,000 of 8% bonds are issued at 102, the amount of cash received from the sale is:

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Madelyn 3 weeks 2021-11-08T21:28:46+00:00 1 Answer 0 views 0

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    2021-11-08T21:30:08+00:00

    Answer:

    The amount is $510,000

    Step-by-step explanation:

    Amount of cash received from the sale of bonds is the product of the Face value of bond and the Bond quote divided by 100.

    Face Value = $500,000

    Bond Quote = 102

    Amount = $500,000 × 102/100

    = $510,000

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