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Business, 05.11.2020 19:00, maddihamidou
On April 1, year 1, Cricket Corporation issues $60 million of 12%, 10-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1.
1) The amount of cash paid to bondholders for interest during year 1, is:.
a) 6,6000,000
b) 5,400,000
c) 3, 600,000
d) 1,800,00
2) Interest expense on this bond issue reported in Criket's Year 1, income statement is:.
a) 2,400,000
b) 4,800,000
c) 5,400,000
d) 7,200,000
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On April 1, year 1, Cricket Corporation issues $60 million of 12%, 10-year bonds payable at par. Int...
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