Question: On September 1 , 2 0 2 4 , Sam's Shoe Company issued $ 3 5 0 , 0 0 0 of 8 % bonds.

On September 1,2024, Sam's Shoe Company 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?
Multiple Choice
$350,000
$364,000
$354,667
$378,000

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