1 on january 1 2009 the clark corporation issued 800000 of, Ask an Expert

Accounting

1. On January 1, 2009, The Clark Corporation issued $800,000 of 12-year bonds with a face rate of 10%. Interest is paid SEMIANNUALLY. The market rate of interest on January 1, 2009 was 8%. What was the PROCEEDS from the bond issue?

a. How would your answer change if the market rate on the issue date of the above bond had been 11% instead of 8%?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975785

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