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O january 1 2002 fox corp issued 1000 of its 10 bonds for

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On January 1, 2002, Fox Corp. issued 1,000 of its 10% bonds for $1,040,000. These bonds were to mature on January 1, 2012 but were callable at 101 any time after December 31, 2005. Interest was payable semi-annually on July 1 and January 1. On July 1, 2007, Fox called all of the bonds and retired them. Bonds premium was amortized on a straight line basis. Journalize the retirement of the bonds

Reference no: EM13588776

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