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Kims Academy had $12,000,000 of X bonds payable due in 2019. Prior to 12/31/2018, Kims...

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Accounting

Kims Academy had $12,000,000 of X bonds payable due in 2019. Prior to 12/31/2018, Kims refinanced $3,000,000 of the X bonds with other bonds that mature in 2029. On January 15, 2019, Kims refinanced another $2,000,000 of the X bonds with others that mature in 2026. Kims issued its financial statements on February 1, 2019. On February 15, 2019, Kims refinanced another $4,000,000 of the X bonds with others that mature in 2027. In its 2018 financial statements, Kims should show noncurrent bonds payable of:

a.$2,000,000

b.$3,000,000

c.$5,000,000

d.$9,000,000

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