On September 1, 2016, Sam's Shoe Co. Issued $390,000 of 10% 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 recieve upon sale of the bonds?

A.) $409,500

B.) $429,000

C.) $369,500

D.) $390,000

Question

Makai Rowland

Business

26 May, 23:50

On September 1, 2016, Sam's Shoe Co. Issued $390,000 of 10% 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 recieve upon sale of the bonds?

A.) $409,500

B.) $429,000

C.) $369,500

D.) $390,000

+5

Answers (1)

Know the Answer?

Zackery Lin · Answer 1

It is given that the bonds were sold at the face amount which is 390,000

This means that Sam's Shoe Co. received 390,000 because of the issue of bond

On September 1, 2016, Sam's Shoe Co. Issued $390,000 of 10% 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 recieve upon sale of the bonds?A.) $409,500B.) $429,000C.) $369,500D.) $390,000

On September 1, 2016, Sam's Shoe Co. Issued $390,000 of 10% 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 recieve upon sale of the bonds?

A.) $409,500

B.) $429,000

C.) $369,500

D.) $390,000