A company purchased $60,000 of 5% bonds on May 1 at par value. The bonds pay interest on March 1 and September 1. The amount of interest accrued on December 31 (the company's year-end) would be:
A) $1,000.
B) $2,500.
C) $500.
D) $1,250.
E) $1,500.
Correct Answer:
Verified
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