If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is

A) $2,060,000
B) $2,000,000
C) $2,100,000
D) $1,940,000

Face Value

The nominal value or dollar value printed on a bond or stock certificate.

Bonds

Debt securities issued by entities such as corporations or governments to raise funds, which obligate the issuer to pay back the principal amount with interest by a specified date.

Cash Received

The amount of money that a business or individual has obtained from various sources, including transactions, investments, or financing.