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1. The following information was taken from the 2021 financial statements of Jordans Corporation: Bonds payable, January 1, 2021: $40,000 Bonds payable, December 31, 2021:

1. The following information was taken from the 2021 financial statements of Jordans Corporation:

Bonds payable, January 1, 2021: $40,000

Bonds payable, December 31, 2021: $65,000

During 2021:

A $15,000 payment was made to retire bonds as maturity. The bonds were originally issued at par. Bonds payable with a face amount of $10,000 were issued in exchange for equipment.

In its statement of cash flows for the year ended December 31, 2021, what amount should the company report as proceeds from issuance of bonds payable?

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