On 2 January 2014, Mahoney Sales Issued $10 000 in Debentures

question 47

Multiple Choice

On 2 January 2014, Mahoney Sales issued $10 000 in debentures for $9 400. They were 5- year debentures with a stated rate of 4%, and pay half- yearly interest payments. Mahoney Sales uses the straight- line method to amortise the debenture discount. After the second interest payment on 31 December 2014, what was the debenture carrying amount?

• A)$9 460
• B)$9 520
• C)$9 880
• D)$9 400

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Definitions:

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Solitary Confinement

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PREA Laws

Legislation aimed at preventing sexual assault and ensuring accountability in confinement facilities, known formally as the Prison Rape Elimination Act.

Katzenbach Commission

A commission named after Nicholas Katzenbach, established to investigate and propose reforms for the criminal justice system, active in the mid-20th century America.