A company has 5 debentures worth N500 000 ordin... - JAMB Accounting 1997 Question
A company has 5% debentures worth N500 000 ordinary share capital N 2 000 000, and preference shares N1500 000. if the company made a profit of N 1 000 000, the debenture interest would amount to
A
N 1 000 000
B
N 500 000
C
N 50 000
D
N 25 000
correct option: d
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