(Answered) Question - lucky treasures enterprises issued 9 8-year

Accounting

Question - Lucky Treasures Enterprises issued 9%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2013 and are issued on that date. The discount rate of interest for such bonds on April 1, 2013, is 10%. What cash proceeds did Lucky Treasures receive from the issuance of the bonds?

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