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On March 31, 2022, Edinburg Company retired bonds early by repurchasing them in the market for $4,990,000. The total face value of the bonds
On March 31, 2022, Edinburg Company retired bonds early by repurchasing them in the market for $4,990,000. The total face value of the bonds retired at March 31, 2022 was $5.14 million for which there remained a balance of $295,000 of unamortized discount. Required: Prepare the journal entry to retire the bonds. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 Record the retirement of the $5.14 million in bonds. Note: Enter debits before credits. Date March 31, 2022 General Journal Debit Credit
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