The statement of financial position for Prism Consulting reports the following information on July 1, 2014. Non-current
Question:
The statement of financial position for Prism Consulting reports the following information on July 1, 2014.
Non-current liabilities
Bonds payable £960,000
Prism decides to redeem these bonds at 101 (face value of bonds £1,000,000) after paying semiannual interest. Prepare the journal entry to record the redemption on July 1, 2014.
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Bonds Payable 960000 Lo...View the full answer
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Related Book For 
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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