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The December 31, 2017, balance sheet of Ming Inc. included 10 % bonds with a face amount of $108 million. The bonds were issued in
The December 31, 2017, balance sheet of Ming Inc. included 10 % bonds with a face amount of $108 million. The bonds were issued in 2005 and had a remaining discount of $4,200,000 at December 31, 2017. On January 1, 2018, Ming called the bonds at a price of 101 Required: Prepare the journal entry by Ming to record the retirement of the bonds on January 1, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 Record the retirement of the bonds on January 1, 2018. Note: Enter debits before credits Credit General Journal Debit Date January 01, 2018
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