On july 1 2004 risen co. issued 500 of its 10 1000 bonds at, Ask an Expert

Accounting

On July 1, 2004, Risen Co. issued 500 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2004 and mature on April 1, 2014. Interest is payable semiannually on April 1 and October 1. What amount did Risen receive from the bond issuance?

a. $507,500

b. $500,000

c. $495,000

d. $482,500

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Accounting Basics, Accounting

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