Quick Drive Ins borrowed money by issuing 4 000 000 of 4 bonds
Quick Drive-Ins borrowed money by issuing $4,000,000 of 4% bonds payable at 96.5.
Requirements
1. How much cash did Quick receive when it issued the bonds payable?
2. How much must Quick pay back at maturity?
3. How much cash interest will Quick pay each six months?
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