The balance sheet for Jones Company reports the following information on July 1. Prepare entry lor redemption
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The balance sheet for Jones Company reports the following information on July 1. Prepare entry lor redemption 2006.
Jones decides to redeem these bonds at 103 after paying semiannual interest. Prepare the journal entry to record the redemption on July 1, 2006.
Transcribed Image Text:
Long-term liabilities Bonds payable $1,000,000 Less: Discount on bonds payable 60,000 $940,000
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Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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