The balance sheet for Claremont Company reports the following information on July 1, 2012. Claremont decides to
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The balance sheet for Claremont Company reports the following information on July 1, 2012.
Claremont decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1,2012.
Transcribed Image Text:
CLAREMONT COMPANY Balance Sheet (partial) Long-term liabilities Bonds payable Less: iscount on bonds payable $2,000,000 $1,955,000 45,000
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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