On april 1 2010 everly corporation issued 8 debentures, Ask an Expert

Accounting

On April 1, 2010, Everly Corporation issued 8% debentures dated January 1, 2010. The debentures had a face value of $3,000,000 and interest was payable on January 1 and July 1. The debentures were sold at par plus accrued interest. To record this event on April 1, 2010, Everly should debit cash for:

Select one:

a. $3,000,000

b. $2,920,000

c. $3,060,000

d. $3,080,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946042

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