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local juice company, Carrots Only, sold semi-annual bonds on January 1, 2020. The bonds were all repurchased at par on July 1, 2024. Details about
local juice company, Carrots Only, sold semi-annual bonds on January 1, 2020. The bonds were all repurchased at par on July 1, 2024. Details about the bond are below: Face value - $25,000,000 Coupon payment date - June 30 and December 31 of each year Coupon rate - 10% Market rate - 12% Time to maturity - 8 years What is the journal entry that would be recorded on the repurchase and retirement of the bond on June 30, 2024? Enter a positive number if the account is in a debit position. Enter a negative number if the account is in a credit position (i.e. - 10,000). Do not use $ signs in your final answer. Do not round intermediary answers. If an account does not apply, enter 0. Round your final answers to the nearest dollar. 27 Bonds Payable = $ Cash = $ Gain on Retirement = $ Loss on Retirement = $
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