Sunset Drive-Ins borrowed money by issuing $4,500,000 of 5% bonds payable at 90.5. Interest is...
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Sunset Drive-Ins borrowed money by issuing $4,500,000 of 5% bonds payable at 90.5. Interest is paid semiannually. Requirements 1. How much cash did Sunset receive when it issued the bonds payable? 2. How much must Sunset pay back at maturity? 3. How much cash interest will Sunset pay each six months? ** Requirement 1. How much cash did Sunset receive when it issued the bonds payable? Amount of cash Sunset received when the bonds payable were issued
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