Question
On January 1, 2017, Crane Company redeemed $480,000 of bonds at 105. At the time of redemption, the unamortized discount was $16,300 and unamortized bond
On January 1, 2017, Crane Company redeemed $480,000 of bonds at 105. At the time of redemption, the unamortized discount was $16,300 and unamortized bond issue costs were $2,900.
Prepare the Crane's journal entry to record the reacquisition of the bonds.
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Financial Reporting and Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
7th edition
1259722651, 978-1259722653
