King 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 King's statements?

A)Repaid a bond issued at a discount.
B)Borrowed funds through a line-of-credit.
C)Made a payment on an installment loan.
D)Issued a bond at a discount.

Question

King 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 King's statements?

A)Repaid a bond issued at a discount. 
B)Borrowed funds through a line-of-credit. 
C)Made a payment on an installment loan. 
D)Issued a bond at a discount.

Quizplus · Accepted Answer

The Answer of King 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 King's statements?

A)Repaid a bond issued at a discount. 
B)Borrowed funds through a line-of-credit. 
C)Made a payment on an installment loan. 
D)Issued a bond at a discount.

King Company Experienced an Accounting Event That Affected Its Financial