Question
The December 31, 2016, balance sheet of Ming Inc. included 12% bonds with a face amount of $100 million. The bonds were issued in 2007
The December 31, 2016, balance sheet of Ming Inc. included 12% bonds with a face amount of $100 million. The bonds were issued in 2007 and had a remaining discount of $3,400,000 at December 31, 2016. On January 1, 2017, Ming called the bonds at a price of 102,000,000. Prepare the journal entry by Ming to record the retirement of the bonds on January 1, 2017?
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Standard For Auditing Computer Applications
Authors: Martin A. Krist
2nd Edition
0849399831, 978-0849399831
