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What net amount was received from the bond issuance

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Question - On March 1, 2021, an entity issued 4,000 of P1,000 face value bonds at 105 plus accrued interest. The entity paid bond issue cost of P300,000. The bonds were dated November 1, 2020, mature on November 1, 2030, and bear interest at 9% payable semiannually on May 1 and November 1. What net amount was received from the bond issuance?

Reference no: EM132980944

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