On March 1, 20x5, Darby Corporation sold 102 of its 9 percent, $1,000 bonds for a price of 96 plus accrued interest. The accrued interest amounted to $1,000. If a balance sheet were to be prepared at the end of the day, March 1, 20x5, the carrying value reported for the bonds payable would be
A) $102,000.
B) $97,920.
C) $98,940.
D) $96,900.
B
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What will be an ideal response?
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a. file a financing statement. b. take possession of the instrument. c. do nothing. Perfection is automatic. d. secure a court order.
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