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    frananitra's Avatar
    frananitra Posts: 1, Reputation: 1
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    #1

    May 9, 2010, 06:44 AM
    Accounting
    If $1,000,000 of 8% bonds are issued at 103 1/2, the amount of cash received from the sale is what amount?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 11, 2010, 07:30 PM

    103 1/2 means 103 1/2% of the face value.
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