Q1)

On november 1, 2018, A - 1 products borrowed $630000 on a 8%, 8 - year note with annual installment payments of $ 7875 plus interest due on november 1 of each succeeding year. on november 1, 2020, what is the balance of the long - term payable account? (round your answer to nearest whole number)

A. $7875

B. $55125

C. $63000

D. $47250

Q2)

Which of the following describes a debenture?

A. a bond that gives the bondholder a claim for specific assets

B. a bond that is not backed by specific assets

C. a bond that matures at one specified time

D. a bond that matures in installments at regular intervals

Q3)

The lakeside company issues $518000 of its 10%, 10 - years bonds at 106 on march 31, 2019. The bonds pay interest on march 31 september 30. on september 30, 2019, how much cash did the company pay to the bondholders?

A.$25900

B. $12950

C. $2590

D. $51800

Q4)

When a bond is matured. the carrying value always equals the face value

True

False