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Sheridan Company issues $5080000, 6%, 5-year bonds dated January 1, 2017 on January 1, 2017....

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Accounting

Sheridan Company issues $5080000, 6%, 5-year bonds dated January 1, 2017 on January 1, 2017. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue?

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