On October 1, 2021, Shane Company issued 5,000 12% bonds with face amount of P1,000 per bond

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On October 1, 2021, Shane Company issued 5,000 12% bonds with face amount of P1,000 per bond at 110. The bonds which mature on January 1, 2026, pay interest semiannually on January 1 and July 1. The entity paid bond issue cost of P200,000.

How much was received from the issuance of the bonds?

		5,650,000
		5,300,000
		5,450,000
		5,550,000

Related Book For answer-question

Intermediate accounting

ISBN: 978-0077647094

7th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: Aug 14, 2022 03:57 AM

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On October 1, 2021, Shane Company issued 5,000 12% bonds with face amount of P1,000 per bond

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A Issue value 5000 bonds P1000 110 5500000 bond issue cost 2000... View the full answer

Intermediate accounting

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