On the issuance date, the Bonds Payable account had a balance of $80,000,000 and Premium on Bonds Payable had a balance of $5,000,000. What was the issue price of the bonds?

Name: On the issuance date, the Bonds Payable account had a balance of $80,000,000 and Premium on Bonds Payable had a balance of $5,000,000. What was the issue price of the bonds?
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The issue price of the bonds is the sum of the Bonds Payable and the Premium on Bonds Payable, which is $80,000,000 + $5,000,000 = $85,000,000.

On the Issuance Date, the Bonds Payable Account Had a Balance