Solar Energy Inc. issued a $900,000, 5%, five-year bond on October 1, 2017. Interest is paid annually

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Solar Energy Inc. issued a $900,000, 5%, five-year bond on October 1, 2017. Interest is paid annually each October 1. Solar’s year-end is December 31.



Required 


Using the amortization schedule provided below, record the entry to retire the bonds on October 1, 2020, for cash of:


a. $881,000 


b. $883,500 


c. $886,900image

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Related Book For  book-img-for-question

Fundamental Accounting Principles Volume 2

ISBN: 9781259087363

15th Canadian Edition

Authors: Kermit Larson, Heidi Dieckmann

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