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How much cash was received from the issuance of the bonds

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Reference no: EM132719653

Problem 1: On October 1, 2020, Shape Company issued 5,000 12% bonds with face value amount of P1,000 per bond at 110. The bonds which mature on January 1, 2025 pay interest semi-annually on January 1 and July 1. The entity paid bond issue cost of P200,000. How much cash was received from the issuance of the bonds?

Reference no: EM132719653

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