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Current Attempt in Progress The following are two independent situations. 1 Carla Vista plc. redeemed 131,000 face value, 10% bonds on June 30, 2020,
Current Attempt in Progress The following are two independent situations. 1 Carla Vista plc. redeemed 131,000 face value, 10% bonds on June 30, 2020, at 102. The carrying value of the bonds at the redemption date was 118,500. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded. 2. Tastove Inc. redeemed 150,000 face value, 12% bonds on June 30, 2020, at 96. The carrying value of the bonds at the redemption date was 151,600. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded. For each independent situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2.
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