Multiple Choice
On July 1, George Co.issued $3,000,000 of 10-year, 8% bonds at par.Interest on the bonds is payable semiannually on December 31 and June 30.As a result of this transaction, net assets of the company:
A) decrease by $240,000.
B) increase by $3,000,000.
C) is not effected.
D) decrease by $120,000.
Correct Answer:
Verified
Correct Answer:
Verified
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