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right answer please Solar Energy Inc. issued a $912,000,5.5%, five-year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year- end
right answer please
Solar Energy Inc. issued a $912,000,5.5%, five-year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year- end is December 31. Period Ending Cash Interest Paid Period Interest Expense Discount Amort. Oct. 1/20 Oct. 1/21 Oct. 1/22 Oct. 1/23 Oct. 1/24 Oct. 1/25 $ 50, 160 50,160 50,160 50, 160 50, 160 $250,800 $ 56,817 57,249 57,710 58,201 58,723 $288,700 $ 6,657 7,089 7,550 8,041 8,563 $37,900 Unamortized Carrying Discount Value $37,900 $874,109 31,243 880,757 24,154 887,846 16,604 895, 396 8,563 903,437 912,000 Assume that interest has already been paid on October 1, 2023 Required: Using the amortization schedule provided above, record the entry to retire the bonds on October 1, 2023, for cash of a. $887.000 b. $895,396 c. $898.900 View transaction list Journal entry worksheet 2. 3 > Record the retirement of bond for 9887,000. Journal entry worksheet 1 2 3 Record the retirement of bond for $887,000. Note: Enter debits before credits. Date Oct 1 2023 General Journal Debit Credit Record entry Clear entry View general journalStep by Step Solution
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