Applegate Company experienced an accounting event that affected its financial statements as indicated below: Which of the following accounting events could have caused these effects on Knight's statements?
A) paid interest and principal on loan
B) borrowed funds through a line of credit
C) paid interest on bonds
D) repaid principal on bonds at maturity

Question

Applegate Company experienced an accounting event that affected its financial statements as indicated below:  Which of the following accounting events could have caused these effects on Knight's statements?
A) paid interest and principal on loan 
B) borrowed funds through a line of credit 
C) paid interest on bonds 
D) repaid principal on bonds at maturity

Quizplus · Accepted Answer

The Answer of Applegate Company experienced an accounting event that affected its financial statements as indicated below:  Which of the following accounting events could have caused these effects on Knight's statements?
A) paid interest and principal on loan 
B) borrowed funds through a line of credit 
C) paid interest on bonds 
D) repaid principal on bonds at maturity

Applegate Company Experienced an Accounting Event That Affected Its Financial