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Candlestick Park issued $300,000, 8%, 20-year bonds on January 1, 2002 when the market rate was 10%. The entire issuance was redeemed on January 1,
Candlestick Park issued $300,000, 8%, 20-year bonds on January 1, 2002 when the market rate was 10%. The entire issuance was redeemed on January 1, 2018. The bonds were callable at 104. Their carrying amount was $288,800 and unamortized bond issuance costs were $2,400 at the redemption date. 3. Record, in good form, the journal entry to redeem the bonds. (25 points)
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