McDonald Sales Prepared a Debenture Issue of $20 000 Dated

Multiple Choice

McDonald Sales prepared a debenture issue of $20 000 dated 1 January 2013. The debentures have a stated rate of 3% and a term of 6 years. The debenture issue was delayed, and the debentures were finally sold on 1 March 2013 at par. How much cash will McDonald receive for the debentures?

A) $20 300
B) $19 900
C) $20 000
D) $20 100