If $2,000,000 of 10% bonds are issued at 97, the
Mary Reyes
Answered question
2021-12-10
$1,940,000
$2,000,000
$2,060,000
$2,100,000
Answer & Explanation
Terry Ray
Beginner2021-12-11Added 50 answers
Step 1
If the company can raise capital by issuing bonds, it needs money. In most cases, the bond serves as a loan between an investor and a business.
Step 2
Determine how much money was made from sales:
=$1,940,000
Thus, the amount of cash received from the sale of bond is $1,940,000.
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