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On April 1, 2020, Bond Corporation issued 9% debentures dated January 1, 2020. The debentures had a face value of $3,000,000 and interest was payable on January 1 and July 1. The debentures were sold at par plus accrued interest. To record this event on April 1, 2020, Everly should debit cash for a. b. C. d. $2,920,000. $3,000,000. $3,060,000. $3,067,500.

On April 1, 2020, Bond Corporation issued 9% debentures dated January 1, 2020. The debentures had a face value of $3,000,000 and interest was payable on January 1 and July 1. The debentures were sold at par plus accrued interest. To record this event on April 1, 2020, Everly should debit cash for a. b. C. d. $2,920,000. $3,000,000. $3,060,000. $3,067,500.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On April 1, 2020, Bond Corporation issued 9% debentures dated January 1, 2020. The debentures had a face value of $3,000,000 and interest was payable on January 1 and July 1. The debentures were sold at par plus accrued interest. To record this event on April 1, 2020, Everly should debit cash for a. b. C. d. $2,920,000. $3,000,000. $3,060,000. $3,067,500.
Transcribed Image Text:On April 1, 2020, Bond Corporation issued 9% debentures dated January 1, 2020. The debentures had a face value of $3,000,000 and interest was payable on January 1 and July 1. The debentures were sold at par plus accrued interest. To record this event on April 1, 2020, Everly should debit cash for a. b. C. d. $2,920,000. $3,000,000. $3,060,000. $3,067,500.
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