Question
Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2025, at face value. Inte is payable annually on January 1. Prepare the
Pharoah Company issued $380,000 of 6%, 20-year bonds on January 1, 2025, at face value. Inte is payable annually on January 1. Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
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Get StartedRecommended Textbook for
Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
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