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Adonis Corporation issued 10-year, 7% bonds with a par value of $160,000. Interest is paid...

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Accounting

Adonis Corporation issued 10-year, 7% bonds with a par value of $160,000. Interest is paid semiannually. The market rate on the issue date was 6%. Adonis received $171,906 in cash proceeds. Which of the following statements is true?

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