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During 2014 and 2015, Cook Co. completed the following transactions relating to its bond issue. The company's fiscal year ends on December 31. 2014 Mar.

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During 2014 and 2015, Cook Co. completed the following transactions relating to its bond issue. The company's fiscal year ends on December 31. 2014 Mar. 1 Issued $360,000 of ten-year, 7 percent bonds for $354,000. The semiannual cash payment for Sept. 1 Recognized interest expense including the amortization of the discount and made the semiannual Dec. 31 Recognized accrued interest expense including the amortization of the discount. 2015 interest is due on March 1 and September 1, beginning September 2014 cash payment for interest. Mar. 1 Recognized interest expense including the amortization of the discount and made the semiannual Sept. 1 Recognized interest expense including the amortization of the discount and made the semiannual Dec. 31 Recognized accrued interest expense including the amortization of the discount. Required cash payment for interest. cash payment for interest. the bonds were issued was the market rate of interest more or less than the stated rate of interest? O More Less a-2. If the bonds had sold at face value, what amount of cash would Cook Co. have received? Cash received

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