Interest on the bond is payable semiannual on december 31, Ask an Expert

Accounting

On july 1, 2010 BRower industries Inc issued 32,000,000 of 10year,12% bonds at an effective interest rate of 13%, receiving cash of 30,237,139. Interest on the bond is payable semiannual on December 31 and June 30. The fiscal year of the company is the calendar year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M985122

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