Determining cash receipts from bond issuesRequiredCompute the cash proceeds from bond issu...

Determining cash receipts from bond issues

Required

Compute the cash proceeds from bond issues under the following terms. For each case, indicate whether the bonds sold at a premium or discount.

a.Pro, Inc., issued $300,000 of 8-year, 7 percent bonds at 101.

b. Sim Co. issued $150,000 of 4-year, 6 percent bonds at 98.

c. Chu Co. issued $200,000 of 10-year, 7 percent bonds at 102

d. Sing, Inc., issued $100,000 of 5-year, 6 percent bonds at 97