State and local governments serve as a steward over public funds. This stewardship responsibility dominates the accounting for state and local governments

Sandia Corporation issued $2,000,00 . worth of callable bonds paying 7% interest. The maturity date for the bonds was in 10 years. A year later, interest rates fell to 5%. The bonds were called and new bonds were sold at the 5% rate. How much did Sandia Corporation save by calling the bonds?

Which of the following is(are) not related to the extension of credit to customers?

A) Compensating balances B) Prompt payment discounts C) Quantity discounts D) a and c