On july 1, 20x5, cove corp., a closely-held corporation, issued 6% bonds with a maturity value of $60,000, together with 1,000 shares of its $5 par value common stock, for a combined cash amount of $110,000.the market value of cove's stock cannot be ascertained. if the bonds were issued separately, they would have sold for $40,000 on an 8% yield to maturity basis. what amount should cove report for additional paid-in capital on the issuance of the stock? a. $75,000b. $65,000c. $55,000d. $45,000
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On july 1, 20x5, cove corp., a closely-held corporation, issued 6% bonds with a maturity value of $6...
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