On July 1, 2019, Reliable Services issued $47,000 of 9% bonds that mature in five years...
On July 1, 2019, Reliable Services issued $47,000 of 9% bonds that mature in five years for $59,000. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2019, what is the total amount paid to bondholders?
Homework Answers
Answer:
| Calculation of the Total amount paid to Bondholders: |
| Amount paid to bondholders = 47,000*9%*6/12 |
| = 2115 |
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On July 1, 2019, Reliable Services issued $47,000 of 9% bonds
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