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What amount should marigold report as proceeds

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Reference no: EM132973048

The following information was taken from the 2021 financial statements of Marigold Corp.:

Bonds payable, January 1, 2021$ 800000

Bonds payable, December 31, 2021 4830000

During 2021

  • A $713000 payment was made to retire bonds payable with a face amount of $791000.
  • Bonds payable with a face amount of $328000 were issued in exchange for equipment.

Problem 1: In its statement of cash flows for the year ended December 31, 2021, what amount should Marigold report as proceeds from issuance of bonds payable?

Option 1: $4445000

Option 2: $5158000

Option 3: $4493000

Option 4: $4030000

Reference no: EM132973048

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