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Assume that on July 1, 2022, Flounder Co. redeems half of the bonds at a cost of $1,023,400 plus accrued interest. Prepare the journal
Assume that on July 1, 2022, Flounder Co. redeems half of the bonds at a cost of $1,023,400 plus accrued interest. Prepare the journal entry to record this redemption. (Round answers to O decimal places, eg. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation July 1 2022 Interest Expense July 1. 2022 Premium on Bonds Payable (To record interest) Bonds Payable Debit 43956 2544 46500 930000 15422 31479 Credit 46500
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