What amount did spear receive from the bond issurance?, Financial Accounting

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On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable semiannually on April 1 and October 1.


Required:

What amount did Spear receive from the bond issuance?

 


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