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Ques 3: (1.5 mark) On January 1, 2017. Alpha Technology issued bonds with a face value of OMR 200,893 at 98 (2 % below par),

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Ques 3: (1.5 mark) On January 1, 2017. Alpha Technology issued bonds with a face value of OMR 200,893 at 98 (2 % below par), due in January 2025. On January 1, 2022, the entire issue was called at 102 and cancelled. Interest is paid annually, and the discount amortized using the straight-line method. Required a. Calculate the carrying value of bond on the date of retirement b. Calculate the loss on retirement c. Pass the journal entries to record the retirement of bonds before maturity

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