On January 1, 2010, Tiger Corporation sold $100, 000 of its 15%, five-year bonds dated January 1, 2010, for $102, 000 total cash.The bonds sold at

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The bonds were sold for $102,000 which is $2,000 more than their face value of $100,000. This means that the bonds were sold at a premium, which is common for bonds that have a higher interest rate than the current market rate. The premium represents the additional amount investors are willing to pay for a bond with a higher interest rate.

On January 1, 2010, Tiger Corporation Sold $100, 000 of Its