question archive On March 1, 2018, Cain Company issued at 103 plus accrued interest 4,000 of 9%, P1,000 face value bonds
On March 1, 2018, Cain Company issued at 103 plus accrued interest 4,000 of 9%, P1,000 face value bonds
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On March 1, 2018, Cain Company issued at 103 plus accrued interest 4,000 of 9%, P1,000 face value bonds. The bonds are dated January 1, 2018 and mature on January 1, 2028.
Interest is payable semiannually on January 1 and July 1. The entity paid bond issue cost of P200,000.
What is the net cash received from the bond issuance? ‘
a. 4,320,000
b. 4,180,000
c. 4,120,000
d. 3,980,000
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