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Ontario Ltd. (OL), a publicly accountable enterprise, issued debt in 2020 to expand its operations into Manitoba. The debt bears interest at an annual rate
Ontario Ltd. (OL), a publicly accountable enterprise, issued debt in 2020 to expand its operations into Manitoba. The debt bears interest at an annual rate of 4.5%. The debt, which is only to be repaid upon liquidation of OL, was issued at face value of $6,000,000. Which of the following statements is true regarding how OL should account for this debt?
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