at par va Obama Insurance Corporation, Inc., [OIC] issued $18,000,000 of 4% bonds on June 1, 202 The bonds were dated January 1, 2022. The company pays interest on June 30 and December 31 each year. How much will the bond investors need to pay the company in order to purchase these bonds on June 1, 2022 and how much will the bond investors receive in interest on June 30, 2022? [INVESTORS: Pay June 1; Receive June 30] O a. PAY $18,000,000; RECEIVE O b. PAY $17,700,000; RECEIVE OC. PAY $18,000,000; RECEIVE $17,700,000; RECEIVE Od. PAY ****** www. www ***** **** $360,000 $360,000 $720,000 $354,000

at par va Obama Insurance Corporation, Inc., [OIC] issued $18,000,000 of 4% bonds on June 1, 202 The bonds were dated January 1, 2022. The company pays interest on June 30 and December 31 each year. How much will the bond investors need to pay the company in order to purchase these bonds on June 1, 2022 and how much will the bond investors receive in interest on June 30, 2022? [INVESTORS: Pay June 1; Receive June 30] O a. PAY $18,000,000; RECEIVE O b. PAY $17,700,000; RECEIVE OC. PAY $18,000,000; RECEIVE $17,700,000; RECEIVE Od. PAY **** www. www * ** $360,000 $360,000 $720,000 $354,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 3EB: Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual...

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