In the financial year, AB Limited paid $1400 in debenture interest for that year. By the year end, a further $700 of debenture interest had been accrued. How was debenture interest presented in the financial statements for the year?
- Aincome statement $1400; statement of changes in equity: no entry
- Bincome statement $2100; statement of changes in equity: no entry
- Cincome statement: no entry; statement of changes in equity $1400
- Dincome statement: no entry; statement of changes in equity $2100