On March 1, 2022, Burdick Co. issued bonds with a face value of $600,000. The bonds carry a stated interest rate of 8%; interest is payable each June 1st and December 1st. The bonds were issued at 105 plus accrued interest. The straight-line method is used. The bonds mature on 6/1/25. What was the total cash received on 3/1/22?

Answer rating: 100% (QA)

I Working Issue price of bond 6... View the full answer