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If bonds with a face value of $500,000 are sold at 97.5, what is the amount of cash proceeds received from the bond issuance?

If bonds with a face value of $500,000 are sold at 97.5, what is the amount of cash proceeds received from the bond issuance?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 9Q: What kind of account is the Discount on Bonds Payable? What kind of account is the Premium on Bonds...
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If bonds with a face value of $500,000 are sold at 97.5, what is the amount of cash proceeds received from the bond issuance?
Transcribed Image Text:If bonds with a face value of $500,000 are sold at 97.5, what is the amount of cash proceeds received from the bond issuance?
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