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On 7/1/10 E Corp issued 600 of its 10% $1000 bonds at 99 plus accrued interest. The bonds are dated 4/1/10 and mature 4/1/20. Interest is payable semiannually on 4/1 and 10/1. What amount did Eagle receive from the bond issuance?
This question is confusing me like no other. Does anyone get this? Why would Interest Expense dncrease your cash when your issuing bonds and increase your cash when you invest in bonds? The answer is 609000 btw.
Reg 4/18/12 78
Far 7/30/12 74, 74, 75
Bec 11/11/12 74, 78
Aud TBD 51, 71, XX
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