To calculate the total cash received from the issuance of bonds, we can follow a simple formula:
Total Cash Received = Number of Bonds x Price per Bond
In this case, you have:
- Number of Bonds: 1,000,000
- Price per Bond: 101
Now, plugging the numbers into the formula:
Total Cash Received = 1,000,000 x 101
Calculating this gives:
Total Cash Received = 101,000,000
Therefore, the total amount of cash received from the sale of 1,000,000 bonds issued at a price of 101 each is $101,000,000.