Crood inc sells 1000000 general obligation bonds for 9800, Ask an Expert

Accounting

Crood, Inc. sells $1,000,000 general obligation bonds for $98.00. The interest rate on the bonds, paid quarterly, is 6%.

a. Calculate the amount that the company will actually receive from the sale of the bonds.

b. Calculate the amount of both the quarterly and the total annual cash interest that the company will be required to pay,

1. Quarterly

2. Annual

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9968526

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