Hung-Chao Yu Company issues a six-year, 8% mortgage note on January 1, 2017, to obtain financing for
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Hung-Chao Yu Company issues a six-year, 8% mortgage note on January 1, 2017, to obtain financing for new equipment. The terms provide for semi-annual instalment payments of $112,825. What were the cash proceeds received from the issue of the note?
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Related Book For 
Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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