Question
A $510,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for $467,000. Journalize the redemption of the bonds. If an
A $510,000 bond issue on which there is an unamortized discount of $35,000 is redeemed for $467,000. Journalize the redemption of the bonds.
If an amount box does not require an entry, leave it blank.
| blank | Account | Debit | Credit |
|---|---|---|---|
| blank | Bonds PayableCashDiscount on Bonds PayableGain on Redemption of BondsLoss on Redemption of Bonds | - Select - | - Select - |
| Bonds PayableDiscount on Bonds PayableInterest ExpenseLoss on Redemption of BondsPremium on Bonds Payable | - Select - | - Select - | |
| Bonds PayableGain on Redemption of BondsInterest ExpenseLoss on Redemption of BondsPremium on Bonds Payable | - Select - | - Select - | |
| Bonds PayableCashInterest PayableLoss on Redemption of BondsPremium on Bonds Payable | - Select - | - Select - |
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Auditing Information Systems And Controls The Only Thing Worse Than No Control Is The Illusion Of Control
Authors: Ed Danter
1st Edition
1425763227, 978-1425763220
