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

Question

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The Answer of 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

McDonald Sales Prepared a Debenture Issue of $20 000 Dated