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Essay's paper info
| Topic: |
Business
|
| Number of pages / Number of words: |
8 / 2074 |
Essay's paper body
Interest of $42,000 is payable semiannually on June 30 and December 31. The entire issue was purchased by United Intergroup, Inc. for $700,000 plus $14,000 accrued interest.
$700,000 (face amount) x 12% (annual rate) x 2/12 = $14,000 (accrued interest)
At Issuance (March 1)
Masterwear (Issuer)
Cash ????????????????? 714,000
Bonds Payable ???????????...
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The entire issue was purchased by United Intergroup, Inc. for $700,000 plus $14,000 accrued interest.
$700,000 (face amount) x 12% (annual rate) x 2/12 = $14,000 (accrued interest)
At Issuance (March 1)
Masterwear (Issuer)
Cash ????????????????? 714,000
Bonds Payable ???????????.. 700,000
Interest Payable ??????????? 14,000
United (Investor)
Investment in Bonds ??????????...
Essay fragment
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