Answer:
Bonds Payable 900,000
Loss on Redemption of Bonds 42,000
Discount on Bonds Payable 87,000
Cash 855,000
Tuesday, 26 July 2016
A $900,000 bond issue on which there is an unamortized discount of $87,000 is redeemed for $855,000.
A $900,000 bond issue on which there is an unamortized discount of $87,000 is redeemed for $855,000. Journalize the redemption of the bonds.
Answer:
Bonds Payable 900,000
Loss on Redemption of Bonds 42,000
Discount on Bonds Payable 87,000
Cash 855,000
Answer:
Bonds Payable 900,000
Loss on Redemption of Bonds 42,000
Discount on Bonds Payable 87,000
Cash 855,000
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