The total amount of cash received from the sale given by percentage is $1,336,000.
From the question, we can conclude that :
The bonds cost = $1,002,000
Percentage issued = 3/4 = 75%
We can assume that the total amount of cash received from the sale is 100%.
Hence, we can write the formula of cash received depending on the bond cost and percentage given by :
( percentage issued ) / (total) = (bond cost) / (total amount)
( percentage issued ) / (total) = (bond cost) / (total amount)
(75 %) / (100%) = $1,002,0000 / (total amount)
3 / 4 = $1,002,0000 / (total amount)
by cross multiplication
3 x (total amount) = 4 x $1,002,000
3 x (total amount) = $4,008,000
(total amount) = $4,008,000 / 3
(total amount) = $1,336,000
So the total amount of cash received from the sale given by percentage is $1,336,000
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