On January 1, Parson Freight Company issues 7 %, 10-year bonds with a par value of $2,000,000. The bonds pay interest semiannually. The market rate of interest is 8% and the bond selling price was $1,864,097.
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The independent cases are listed below that includes all items relevant to operating activities: Case A Case B Case C Sales revenue $ 70,000 $ 60,000 $ 101,000 Cost of goods sold 37,500 28,500 67,500 Depreciation expense 10,500 2,500 26,500 Salaries
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