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Cech Corporation issued $800,000 of 8% bonds on October 1, 2010, due on October 1,...

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Accounting

Cech Corporation issued $800,000 of 8% bonds on October 1, 2010, due on October 1, 2015. The interest is to be paid once a year on October 1. The bonds were sold to yield 10% effective annual interest. Cech Corporation closes its books annually on December 31. On October 1, 2010, Cech will receive:

a.

$800,000

b. $778,653

c. $759,616

d. $739,347

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