Question: On September 1 , 2 0 2 4 , Contemporary Products, issued $ 1 6 million of its 1 0 % bonds at face value.

On September 1,2024, Contemporary Products, issued $16 million of its 10%

On September 1,2024, Contemporary Products, issued $16 million of its 10% bonds at face value. The bonds are dated June 1,2024, and mature on May 30,2034. Interest is payable semiannually on June 1 and December 1. At the time of issuance, Contemporary Products would receive cash proceeds that would include accrued interest of:
Multiple Choice
$200,000.
$400,000.
$1.6 million.
Zero.
bonds at face value. The bonds are dated June 1,2024, and mature

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