(Answered) Question - calming inc is authorized to issue 9 10-year

Accounting

Question - Calming, Inc. is authorized to issue 9%, 10-year bonds payable. On January 1, 2014 when the market interest rate is 12%, the company issues $100,000 of the bonds. The bonds pay interest semiannually. How much cash did the company receive upon issuance of the bonds payable (round numbers to the nearest whole dollar).

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