Solved: Interest is payable semiannually on april 1 and october 1, Accounting Basics

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Interest is payable semiannually on april 1 and october 1

Question - On July 1, 2007, Risen Co. issued 1500 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2007 and mature on April 1, 2017. Interest is payable semiannually on April 1 and October 1. What total amount of cash did Risen receive on the issuance of the bonds?

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Accounting Basics: Interest is payable semiannually on april 1 and october 1

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Accounting Basics: Interest is payable semiannually on april 1 and october 1

Reference No:- TGS02627275

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