Question
On July 1, 2015, Advocate Company exercises a $5,600 call option (plus par value) on its outstanding bonds that have a carrying value of $288,000
| On July 1, 2015, Advocate Company exercises a $5,600 call option (plus par value) on its outstanding bonds that have a carrying value of $288,000 and par value of $280,000. The company exercises the call option after the semiannual interest is paid on June 30, 2015. |
| Record the entry to retire the bonds. |
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Financial Accounting International Financial Reporting Standards Global Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison
11th Edition
9781292211145
