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How much cash did the company receive

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Question - Serenity, Inc. is authorized to issue 9%, 10-year bonds payable. On January 1, 2016, when the market interest rate is 12%, the company issues $500,000 of the bonds. The bonds pay interest semiannually.

How much cash did the company receive upon issuance of the bonds payable?

Reference no: EM131866037

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