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Nashville Rail Co. issued $100,000 in 10-year bonds in 2009 at 103. The final interest payment was made and recorded. What entry will Nashville record
Nashville Rail Co. issued $100,000 in 10-year bonds in 2009 at 103. The final interest payment was made and recorded. What entry will Nashville record for the redemption of its bonds at maturity?
Bonds Payable | 100,000 | ||||
Cash | 100,000 |
Bonds Payable | 103,000 | ||||
Gain on Bonds Redemption | 3,000 | ||||
Cash | 100,000 |
Bonds Payable | 103,000 | ||||
Premium on Bonds Payable | 3,000 | ||||
Cash | 100,000 |
Bonds Payable | 103,000 | ||||
Cash | 103,000 |
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