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Debra Corporation purchased $690,000 of its bonds on June 30, 2020, at 109 and immediately retired them. The carrying value of the bonds on the
Debra Corporation purchased $690,000 of its bonds on June 30, 2020, at 109 and immediately retired them. The carrying value of the bonds on the retirement date was $620,000. The bonds pay annual interest and the interest payment due on June 30,2020. has been made and recorded. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit June 30 Bonds Payable 63000 90700 Loss on Bond Redemption 90000 Discount on Bonds Payable SUSPM 72" 2/28/2021 20 = (b) Grouper, Inc, purchased $337,000 of its bonds at 98 on June 30, 2020, and immediately retired them. The carrying value of the bonds on the retirement date was $335.000. The bonds pay annual interest and the interest payment due on June 30, 2020, has been made and recorded. (Credit account titles are automatically Indented when the amount is entered. Do not indent manual Date Account Titles and Explanation Debit Credit June 30
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