Question
The December 31, 2016 balance sheet of ABC Co. included the following items: 7.5% bonds payable due December 31, 2019 $240,000 Unamortized discount on bonds
The December 31, 2016 balance sheet of ABC Co. included the following items:
7.5% bonds payable due December 31, 2019 $240,000
Unamortized discount on bonds payable 9,600
The bonds were issued on December 31, 2011 at 95, with interest payable on June
30 and December 31. On January 1, 2017, ABC retired the bonds at 101.
Required: Prepare journal entry for the retirement of bonds.
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Introduction To Financial Accounting
Authors: Charles T Horngren, John A Elliott
9th Edition
0131479725, 978-0131479722
