# The bonds are dated January 1, 2007, and pay interest on June 30 and December 31. What is the total cash received on the issue date?

The bonds are dated January 1, 2007, and pay interest on June 30 and December 31. What is the total cash received on the issue date? A. \$9,700,000 b. \$10,225,000 c. \$9,850,000 d. \$9,550,000 A company issues \$20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are \$19,604,145. Using effective-interest amortization, how much interest expense will be recognized in 2007? A. \$780,000 b. \$1,560,000 c. \$1,568,498 d. \$1,568,332 A company issues \$20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are \$19,604,145. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2007 balance sheet? A. \$19,612,643 b. \$20,000,000 c. \$19,625,125 d. \$19,608,310 A company issues \$20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2006. Interest is paid on June 30 and December 31. The

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