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Parkview Magazine issued $300,000 of 15 year, 7% callable bonds payable on July 31, 2018, at 96. On July 31, 2021, Parkview called the bonds
Parkview Magazine issued $300,000 of 15 year, 7% callable bonds payable on July 31, 2018, at 96. On July 31, 2021, Parkview called the bonds at 101. Assume annual interest payments. Requirements 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2021. 2. Assume all amortization has been recorded property. Journalize the retirement of the bonds on July 31, 2021. No explanation is required Requirement 1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2021. (Assume bonds payable are amortized using the straight-line amortization First, complete the sentence below. The carrying amount of the bonds payable at issuance (July 31, 2018) is $ issuance amounts to $ on the bonds at The carrying amount of the bonds payable at July 31, 2021 is 5 Requirement 2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2021. No explanation is required. (Record debits first, then credits. Excl entries.) Date Accounts Debit Credit 2021 Jul 31 Choose from any list or enter any number in the input fields and then continue to the next
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