Dec. 6 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. 8 Rece
ived $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. 13 Purchased merchandise on account from Hecht Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 20 Paid salaries $1,800. 23 Paid Hecht Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Adjustment data:
1 answer:
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Answer:
option (d) $929.42
Explanation:
Data provided in the question:
Coupon bonds payments = 5.65% semiannual
Yield to maturity, r = 6.94% = 0.0694
Face value = $1000
Now,
Coupon bond payments = × $1,000
= $28.25
market price per bond = Payment × +
Here,
n is the maturity period and 2n is due to the semiannual payments
Thus,
market price per bond = $28.25 × +
= $28.25 × 10.942 + 620.3
= $929.42
Hence,
The answer is option (d) $929.42