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answer what is required complete solution kamsa Problem 3: The following data were obtained from Vlogger Company 15%, 10-year, Bonds Payable, dated January 1, 2019
answer what is required complete solution kamsa
Problem 3: The following data were obtained from Vlogger Company 15%, 10-year, Bonds Payable, dated January 1, 2019 Debit Credit Balance Cash proceeds from issue on January 1, 2019 of 1,000 Php 1,000 bonds. The market rate of interest on the date of issue was 12%. 1,172,044 1,172,044 Bond Interest Expense Cash paid, 1/2/2020 Cash paid, 7/1/2020 Accrual, 12/31/2020 75,000 75,000 75,000 75,000 150,000 225,000 Accrued Interest on Bonds Balance, 1/1/2020 Accrual, 12/31/2020 75,000 75,000 75,000 150,000 Treasury Bonds Redemption price and interest to date on 200 bonds permanently retired on Dec 31, 2020 265,000 265,000 Required: 3. Loss on bond redemption 4. Interest Expense for the year ended December 31, 2020 Problem 3: The following data were obtained from Vlogger Company 15%, 10-year, Bonds Payable, dated January 1, 2019 Debit Credit Balance Cash proceeds from issue on January 1, 2019 of 1,000 Php 1,000 bonds. The market rate of interest on the date of issue was 12%. 1,172,044 1,172,044 Bond Interest Expense Cash paid, 1/2/2020 Cash paid, 7/1/2020 Accrual, 12/31/2020 75,000 75,000 75,000 75,000 150,000 225,000 Accrued Interest on Bonds Balance, 1/1/2020 Accrual, 12/31/2020 75,000 75,000 75,000 150,000 Treasury Bonds Redemption price and interest to date on 200 bonds permanently retired on Dec 31, 2020 265,000 265,000 Required: 3. Loss on bond redemption 4. Interest Expense for the year ended December 31, 2020Step by Step Solution
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