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A company issues face value $ 40 million of bonds at a quote of 96 on January 1, 2015. The bonds pay 10% interest semi-annually

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A company issues face value $ 40 million of bonds at a quote of 96 on January 1, 2015. The bonds pay 10% interest semi-annually on 12/31 and 6/30 and mature in 20 years. How much cash should be debited on the journal entry when the bonds are sold? _%

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