(Answered) Question - soothing inc is authorized to issue 11 10-year

Accounting

Question - Soothing, Inc. is authorized to issue 11%, 10-year bonds payable. On January 1, 2016, when the market interest rate is 16%, the company issues $400,000 of the bonds. The bonds pay interest semiannually.

How much cash did the company receive upon issuance of the bonds payable?

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