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MC Qu. 126 Adonis Corporation issued... Adonis Corporation issued 10-year, 11% bonds with a par...

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Accounting

MC Qu. 126 Adonis Corporation issued...

Adonis Corporation issued 10-year, 11% bonds with a par value of $140,000. Interest is paid semiannually. The market rate on the issue date was 10%. Adonis received $148,725 in cash proceeds. Which of the following statements is true?

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Multiple Choice Adonis must pay $148,725 at maturity plus 20 interest payments of $7,700 each. Adonis must pay $140,000 at maturity and no interest payments Adonis must pay $140,000 at maturity plus 20 interest payments of $7,000 each. Adonis must pay $148,725 at maturity and no interest payments Adonis must pay $140,000 at maturity plus 20 interest payments of $7,700 each

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