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Sonic Drive-Ins borrowed money by issuing $3,000,000 of 8% bonds payable at 96.5. Requirements 1. How much cash did Sonic receive when it issued the

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Sonic Drive-Ins borrowed money by issuing $3,000,000 of 8% bonds payable at 96.5. Requirements 1. How much cash did Sonic receive when it issued the bonds payable? 2. How much must Sonic pay back at maturity? 3. How much cash interest will Sonic pay each six months? Requirement 1. How much cash did Sonic receive when it issued the bonds payable? Sonic received when the bonds payable were issued

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