Question
The December 31, 2015, balance sheet of Ming Inc. included 10% bonds with a face amount of $110 million. The bonds were issued in 2005
The December 31, 2015, balance sheet of Ming Inc. included 10% bonds with a face amount of $110 million. The bonds were issued in 2005 and had a remaining discount of $4,400,000 at December 31, 2015. On January 1, 2016, Ming called the bonds at a price of 101.
A. Record the retirement of the bonds on January 1, 2016.
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Core Concepts Of Accounting
Authors: Leslie K. Breitner, Robert N. Anthony
10th Edition
0136029442, 9780136029441
