Platinum Inc issued RO 800000,10 year, 10% secured bonds at RO 110 on March 1, 2018. The bonds are dated January 01, 2018. Interest is payable on January 01 and July 01. The bonds will be outstanding for 9 years and 10 months or 118 months.

Required:

Answer the questions below related to the case problem and the topic in general.

Question 11

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On March 01,2018 the interest expenses are credited with:

a.

RO 800000

b.

RO 20000

c.

RO 80000

d.

None of the given options

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Question 12

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The amount debited to Interest Payable A/C on 2019 January 01 :

a.

RO 20000

b.

RO 40000

c.

RO 400000

d.

None of the give options

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Question 13

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On 2018 March 01, the cash account is debited with:

a.

RO 900000

b.

RO 20000

c.

None of the given options

d.

RO 800000