A Company Paid $37,800 Plus a Broker's Fee of $525

question 122

Multiple Choice

A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value.The company intends to hold the bonds to maturity.The cash proceeds the company will receive when the bonds mature equal:

• A)$37,800.
• B)$38,325.
• C)$40,000.
• D)$40,525.
• E)$43,200.

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