Frazier Company issues a 10%, 5-year mortgage note on January 1, 2022, to obtain fi - nancing
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Frazier Company issues a 10%, 5-year mortgage note on January 1, 2022, to obtain fi - nancing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $48,850. What are the cash proceeds received from the issuance of the note?
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Related Book For 
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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