On January 1, 2015, Leary Corporation issued $800,000, 9%, 5-year bonds dated January 1, 2015, at 96. The bonds pay annual interest on January 1.
A Calculate cash proceeds received by Leary from sale of bonds
B Calculate total premium or discount(if any and indicate which it is)
C Calculate cash paid out by Leary on the interest payment dates
D Calculate total inertest expense that will be recognized over the life of the bond