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(a) Your answer is partially correct. Sarasota Corp. redeemed $142,000 face value, 10% bonds on April 30, 2022, at 102. The carrying value of the
(a) Your answer is partially correct. Sarasota Corp. redeemed $142,000 face value, 10% bonds on April 30, 2022, at 102. The carrying value of the bonds at the redemption date was $128,226. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 30 Bonds Payable Loss on Bond Redemption Discount on Bonds Payable Cash
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