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Bridgeport Corp.redeemed $120,000 face value, 11% bonds on April 30, 2022 at 102. The carrying value of the bonds at the redemption date was $108,360.

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Bridgeport Corp.redeemed $120,000 face value, 11% bonds on April 30, 2022 at 102. The carrying value of the bonds at the redemption date was $108,360. 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 120000 Loss on Bond Redemption Decount on Bonds Payable 11640 122400

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