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Jones Company issued $40,000, 5 year, 8% bonds at 98 plus accrued interest. The interest is paid semiannually on March 1 and September 1. The
Jones Company issued $40,000, 5 year, 8% bonds at 98 plus accrued interest. The interest is paid semiannually on March 1 and September 1. The bonds are dated March 1, Year 1. The date of sale is May 1, Year 1.
Calculate the amount of the proceeds - the amount that jones Company received when the bonds were issued
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