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Eastview Magazine issued $660,000 of 15-year, 8% callable bonds payable on July 31, 2018, at 93. On July 31, 2021. Eastview called the bonds at
Eastview Magazine issued $660,000 of 15-year, 8% callable bonds payable on July 31, 2018, at 93. On July 31, 2021. Eastview called the bonds at 104. Assume annual interest payments. Requirements 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2021 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2021. No explanation is required. First, complete the sentence below. The carrying amount of the bonds payable at issuance (July 31, 2018) is The on the bonds at issuance amounts to $ The carrying amount of the bonds payable at July 31, 2021 is $ Requirement 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31 2021. No explanation is required. (Record debits first, then credits. Exclude explanations from any journal entries.) Date 2021 Jul. 31 Accounts Debit Credit
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