Multiple Choice
On 31 December 2013, Peterson Sales has a debentures payable balance of $40 000 and a premium on debentures payable of $900. On the balance sheet, how will this information be shown?
A) $40 000 less one- tenth of $900 for a net balance of $39 910
B) $40 000 only
C) $40 000 plus a premium of $900 for a net balance of $40 900
D) $40 000 less premium of $900 for a net balance of $39 100
Correct Answer:
Verified
Correct Answer:
Verified
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