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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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