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PROBLEM III: On January 1, 2017, Tandler Corporation issued a $3,000,000, 10-year, 6% bond at 95. On January 1, 2020, Tandler recalled the entire bond

PROBLEM III:

On January 1, 2017, Tandler Corporation issued a $3,000,000, 10-year, 6% bond at 95. On January 1, 2020, Tandler recalled the entire bond issue at 101.

REQUIRED:

Make the necessary journal entry for January 1, 2020 the day the bond was retired

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