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    Bonds and accrued interest and cash received

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    Feller Company issues 20,000,000 of 10 year, 9% bonds on March 1, 2010 at 97 plus accrued interest. The bonds are dated January 1, 2010, and pay interest on June 30 and December 31. What is the total cash received on the issue date?

    a) 19,400,000
    b) 20,450,000
    c) 19, 700,000
    d) 19, 100,000

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    This solution answers a question about bonds and accrued interest.

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