A Company Issues Bonds at Par on June 1

question 180

Multiple Choice

A company issues bonds at par on June 1.These 7% bonds have a par value of $500,000 and pay interest annually.June 1 is five months after the most recent interest payment date.How much total cash interest is received on June 1 by the bond issuer?

• A)$0
• B)$2,916.66
• C)$100,000.00
• D)$14,583.33
• E)$35,000.00

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