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PLEASE help.please show solution as well.Tia giimenSessionLocator-assign... Ul Dullus Issued at Face Value Levesque Lumber Co. issued $800,000 in bonds at face value 10 years
PLEASE help.please show solution as well.Tia
giimenSessionLocator-assign... Ul Dullus Issued at Face Value Levesque Lumber Co. issued $800,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years. a. Assume the bonds are redeemed at face value. b. Assume that $88,000 of the bonds are redeemed at 104. c. Assume that $88,000 of the bonds are redeemed at 96. Prepare journal entries to record (a), (b), and (c). If an amount box does not require an entry, leave it blank. Page: DOC. POST. DEBITCREDIT NO. REF DATE 1 a. Bonds Payable 2 Cash 4 b. Bonds Payable ACCOUNT TITLE 80,000 80,000 2 88,000 4 Loss on Bonds Redeemed 6 Cash 88,000 8cBonds Payable 9 10 Gain on Bonds RedeemedStep by Step Solution
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