Answer:
Bonds Payable 500,000
Premium on Bonds Payable 67,000
Gain on Redemption of Bonds 77,000
Cash 490,000
Tuesday, 26 July 2016
A $500,000 bond issue on which there is an unamortized premium of $67,000 is redeemed for $490,000
A $500,000 bond issue on which there is an unamortized premium of $67,000 is redeemed for $490,000. Journalize the redemption of the bonds.
Answer:
Bonds Payable 500,000
Premium on Bonds Payable 67,000
Gain on Redemption of Bonds 77,000
Cash 490,000
Answer:
Bonds Payable 500,000
Premium on Bonds Payable 67,000
Gain on Redemption of Bonds 77,000
Cash 490,000
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