On March 1, 2020, Concord Co. issued at 103 plus accrued interest $3,980,000, 9% bonds. The...

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Answer 1

Answer #1

Answer :$ 4,129,100

Face Value of the Bond = $3,980,000

Issue At 103 = 3,980,000*1.03 = $4,099,400

Accured interest = $3,980,000*9%*2/12 = $59,700

Issuing Cost = $30,000

Net Cash received = 4,099,400+59,700-30,000 = $4,129,100 Answer

Answer 2

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