On September 1, 2020, ER issued 11%, 10 year bonds dated June 1, 2020, in the face amount of $140,000, with interest payable July 1 and December 31.The bonds were sold for $140,000.How much should ER debit to cash on September 1, 2020?
A)$142,567
B)$147,700
C)$140,000
D)Cannot be determined from the information given

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The Answer of On September 1, 2020, ER issued 11%, 10 year bonds dated June 1, 2020, in the face amount of $140,000, with interest payable July 1 and December 31.The bonds were sold for $140,000.How much should ER debit to cash on September 1, 2020?
A)$142,567
B)$147,700
C)$140,000
D)Cannot be determined from the information given

On September 1, 2020, ER Issued 11%, 10 Year Bonds