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McDonald Sales Prepared a Bond Issue of $20,000 Dated January

Question 104

Multiple Choice

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


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

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