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Gleason Enterprises issued 6%, 8-year, $2,500,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1,
Gleason Enterprises issued 6%, 8-year, $2,500,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2017 and are issued on that date. The discount rate of interest for such bonds on April 1, 2017, is 8%.What cash proceeds did Gleason receive from issuance of the bonds?
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