Multiple Choice
Medstar Ambulance Service
Information from the company's financial records is presented below: At the end of 2020, the company issued notes at par value for $1,200,000 cash. The proceeds were used to retire the $1,000,000 note issue outstanding at the end of 2019 (before their maturity date) . All interest expense was paid in cash during 2020.
-Refer to Medstar Ambulance Service. How much was paid to retire the $1,000,000 note issue during 2020?
A) $ 800,000
B) $1,200,000
C) $1,045,000
D) $1,075,000
Correct Answer:

Verified
Correct Answer:
Verified
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