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A $500,000 bond issue on which there is an unamortized discount/premium of $20,000 is redeemed for $475,000, Joumalize the redemption of the bonds. If an
A $500,000 bond issue on which there is an unamortized discount/premium of $20,000 is redeemed for $475,000, Joumalize the redemption of the bonds. If an amount box does not require an entry, leave it blank or enter"0" 10-year, bonds, dated June 30, for $2,580,000. Present entries to record the following transactions 1. Issuance of bonds. If an amount box does not require an entry, leave it blank or enter"0" 2. Payment of first semiannual interest on December 31 (record separate entry from discount/premium amortization) 3. Amortization by straight-line method of bond discount/premium on July 1
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