Maitland Corporation issued ten-year,$200,000,8% bonds on July 1,2016.The bonds pay interest semiannually.Maitland made the following entry relating to the first interest payment made on December 31,2016:
Required:
Assuming that Maitland amortizes bond premiums using the straight line method,how much cash did Maitland receive for the issuance of the bond on July 1,2016?
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