On September 1,2016,Sam's Shoe Co.issued $350,000 of 8% bonds.The bonds pay interest semiannually on January 1 and July 1 of each year.The bonds were sold at the face amount.How much cash did Sam's receive upon sale of the bonds?
A) $378,000.
B) $364,000.
C) $354,667
D) $350,000.
Correct Answer:
Verified
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