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Bear, Inc. issued a note payable. The market rate of interest was greater than the stated rate. What happened? the cash received was greater the

Bear, Inc. issued a note payable. The market rate of interest was greater than the stated rate. What happened?

the cash received was greater the maturity value of the note.

the note was issued at a discount.

the note was issued at par.

the note was issued at a premium.

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