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A company issues $1,000,000 6%, 10-year bonds on January 1, 2014 when the market rate...

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Accounting

A company issues $1,000,000 6%, 10-year bonds on January 1, 2014 when the market rate is 5%. Interest is paid annually on December 31. What are the proceeds from issuing the bonds (the debit to CASH at issuance)

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