On May 1, 2019, Red Hood Company issued P2,000,000, 10 years, 9% bonds at 105 including accrued interest. These bonds dated January 1, 2019. Interest is payable semi-annually on January 1 and July 1. Transaction costs of P10,000 were paid by Red Hood. 

What is the net cash receipts from the bond issuance? 

Answer rating: 100% (QA)

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