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On January 1, 2019, Zend Corporation issued $500,000, 8% bonds, receiving a $20,000 premium. On the interest date 5 years later, after the bond interest
On January 1, 2019, Zend Corporation issued $500,000, 8% bonds, receiving a $20,000 premium. On the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 98 and retired the issue. Prepare the journal entry to record the retirement.
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