Blanding Company Issues $1,176,000 of 16%,10-Year Debentures at 96 on 31

question 24

Multiple Choice

Blanding Company issues $1,176,000 of 16%,10-year debentures at 96 on 31 March 2017.The debentures pay interest on 31 March and 30 September.Assume that Blanding uses the straight-line method for amortisation.What net balance will be reported for the debentures on the balance sheet on 30 September 2017? (Round to the nearest dollar. )

• A)$1,176,000
• B)$1,131,312
• C)$1,126,608
• D)$1,128,960

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