Multiple Choice
Assuming no adjusting journal entries have been made,the journal entry to record the cash interest payment on the due date for bonds issued at a discount results in which of the following?
A) An increase in expenses and a decrease in liabilities.
B) An increase in expenses and an increase in liabilities.
C) A decrease in both liabilities and stockholders' equity.
D) A decrease in both assets and liabilities.
Correct Answer:
Verified
Correct Answer:
Verified
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