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McCoy's Building Supplies built a new headquarters to support its surging sales growth. McCoy's issued a 10 year bond at 100 with a stated rate
McCoy's Building Supplies built a new headquarters to support its surging sales growth. McCoy's issued a 10 year bond at 100 with a stated rate of 5% and a face value of 100,000 on January 1, 2015. Payments are due semi-annually. What type of account is Bond payable:
- A. Current Asset
- B. Current Liability
- C. Long-term Liability
- D. Equity
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