Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 25

Bonds Issued at a Discount
Crosby, Inc., sells $1,000,000 general obligation bonds for 98. The interest rate on the bonds, paid quarterly, is 6 percent. Calculate ( a ) the amount that the company will actually receive from the sale of the bonds, and ( b ) the amount of both the quarterly and the total annual cash interest that the company will be required to pay.