Tmc issued 50 million of its 12 bonds on april 1 2011 at 98, Ask an Expert

Accounting

TMC issued $50 million of its 12% bonds on April 1, 2011, at 98 plus accrued interest. The bonds are dated January 1, 2011, and mature on December 31, 2030. Interest is payable semiannually on June 30 and December 31. What amount did TMC receive from the bond issuance?

A. $50.5 million
B. $51.5 million
C. $49.0 million
D. $49.5 million

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9418316

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