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How much cash did the company receive upon issuance

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Question - Calming, Inc. is authorized to issue 9%, 10-year bonds payable. On January 1, 2014 when the market interest rate is 12%, the company issues $100,000 of the bonds. The bonds pay interest semiannually. How much cash did the company receive upon issuance of the bonds payable (round numbers to the nearest whole dollar).

Reference no: EM132091401

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