Question
Sheridan Company retires its $640000 face value bonds at 106 on January 1, following the payment of interest. The carrying value of the bonds at
Sheridan Company retires its $640000 face value bonds at 106 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $663968. The entry to record the redemption will include a
credit of $14432 to Gain on Bond Redemption.
debit of $23968 to Premium on Bonds Payable.
debit of $38400 to Premium on Bonds Payable.
credit of $23968 to Loss on Bond Redemption.
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Patient Care Audit Criteria
Authors: Jean Gayton Carroll
1st Edition
0870943928, 978-0870943928
