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How much cash was paid for interest

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Question - On January 1, 2018, Cabuki Corporation issued $500,000 of 10 percent, 10-year bonds at 88.5. Interest is payable on December 31. If the market rate of interest was 12 percent at the time the bonds were issued, how much cash was paid for interest in 2018?

Reference no: EM132931183

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