Solution-Journalize the redemption of the bonds

Journalize the redemption of the bonds

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Reference no: EM132859817

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On the first day of the fiscal year, a company issues a $930,000, 8%, 5-year bond that pays semiannual interest of $37,200 ($930,000 x 8% × 1/2), receiving cash of $884,171. Journalize the entry to record the issuance of the bonds.

A $500,000 bond issue on which there is an unamortized discount of $34,000 is redeemed for $472,000. Journalize the redemption of the bonds.

Reference no: EM132859817

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Journalize the redemption of the bonds

Reference no: EM132859817

Reference no: EM132859817

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