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On January 1, George Electric issued $25 million of 10-year bonds at a discount. Which of the following is one effect of recording the transaction
On January 1, George Electric issued $25 million of 10-year bonds at a discount. Which of the following is one effect of recording the transaction on the issue date?
| George Electrics liquidity will increase. |
| George Electrics retained earnings will decline. |
| George Electrics total assets will decline. |
| George Electrics profitability will decline. |
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Financial and Managerial Accounting
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
9th edition
1439037809, 978-1439037805
