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What were the cash proceeds received from the issuance

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Reference no: EM132488898

Point 1: Bentley Company issues a 10%, 6-year mortgage note on January 1, 2015, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $49,250.

Question 1: What were the cash proceeds received from the issuance of the note? (Round answer to 2 decimal places, e.g. 25.25.)

Reference no: EM132488898

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