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Dubbin Ltd Issues $3 Million in 5-Year, 8 Per Cent

Question 1

Multiple Choice

Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar) ?


A) Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar) ? A) B) C) D) E) None of the given answers.
B) Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar) ? A) B) C) D) E) None of the given answers.
C) Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar) ? A) B) C) D) E) None of the given answers.
D) Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar) ? A) B) C) D) E) None of the given answers.
E) None of the given answers.

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