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The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 13.25% bonds having a face amount of $90.4 million. The bonds
The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 13.25% bonds having a face amount of $90.4 million. The bonds had been issued in 2010 and had a remaining discount of $3.4 million at December 31, 2017. On January 1, 2018, Indian River Electronics called the bonds before their scheduled maturity at the call price of 104. Required: Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the redemption of the bonds. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2018 Record entry Clear entry View general journal
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