Question: Blue Corp.s December 31, 2010 balance sheet contained the following items in the long-term liabilities section: 9 3/4% registered debentures, callable in 2021, due in

Blue Corp.’s December 31, 2010 balance sheet contained the following items in the long-term liabilities section:

9 3/4% registered debentures, callable in 2021, due in 2026 $700,000 9 1/2% collateral trust bonds, convertible into common stock beginning in 2019 due in 2029 600,000 10% subordinated debentures ($30,000 maturing annually beginning in 2016) 300,000 What is the total amount of Blue’s term bonds?

a. $ 600,000

b. $ 700,000

c. $1,000,000

d. $1,300,000

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