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Redemption of Bonds Issued at a Premium Brighton Unlimited sold bonds at a premium for $651,000 (premium of $31,000) eight years ago. a. The
Redemption of Bonds Issued at a Premium Brighton Unlimited sold bonds at a premium for $651,000 (premium of $31,000) eight years ago. a. The corporation redeems $62,000 of this issue at 98. The unamortized premium is $620. b. The corporation redeems $93,000 of this issue at 102. The unamortized premium is $930. Prepare journal entries to record the redemption in (a) and (b). Page: 1 DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 a. 23 6 b. 7 456789 1 2 23 4567 8 9
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