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  3. ironman, inc., issues $400,000 of 12% bonds that p

Ironman, Inc., issues $400,000 of 12% bonds that pay interest semiannually and mature in 12...

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Accounting

Ironman, Inc., issues $400,000 of 12% bonds that pay interest semiannually and mature in 12 years. Which of the following describe the effect of the transaction on financial statements?
Ironman, Inc., issues $400,000 of 12% bonds that pay interest semiannually and mature in 12 years. Which of the following describe the effect of the transaction on financial statements?
Decrease cash assets by $400,000 and decrease noncurrent liabilities by $400,000
Decrease cash assets by $400,000 and increase noncurrent liabilities by $400,000
Increase cash assets by $400,000 and increase noncurrent liabilities by $400,000
Increase cash assets by $400,000 and decrease noncurrent liabilities by $400,000

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