King Company experienced an accounting event that affected its financial statements as indicated below: Which of the following accounting events could have caused these effects on King's statements?
A) Repaid a bond issued at a discount.
B) Borrowed funds through a line-of-credit.
C) Made a payment on an installment loan.
D) Issued a bond at a discount.

Question

King Company experienced an accounting event that affected its financial statements as indicated below:  Which of the following accounting events could have caused these effects on King's statements?
A) Repaid a bond issued at a discount. 
B) Borrowed funds through a line-of-credit. 
C) Made a payment on an installment loan. 
D) Issued a bond at a discount.

Quizplus · Accepted Answer

The Answer of King Company experienced an accounting event that affected its financial statements as indicated below:  Which of the following accounting events could have caused these effects on King's statements?
A) Repaid a bond issued at a discount. 
B) Borrowed funds through a line-of-credit. 
C) Made a payment on an installment loan. 
D) Issued a bond at a discount.

King Company Experienced an Accounting Event That Affected Its Financial