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Find how much cash was received from the bond issuance

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Reference no: EM132719655

Problem 1: On April 1, 2020, Green Company issued at 99 plus accrued interest, 4,000 8% bonds with face amount of P1,000 per bond. The bonds are dated January 1, 2020, mature on January 1, 2030, and pay interest on January 1 and July 1. The entity paid bond issue cost of P140,000. How much cash was received from the bond issuance?

Reference no: EM132719655

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