Question
The December 31, 2018 balance sheet of Wolfe Co included the following items: 7.5% bonds payable due December 31, 2026 $3,000,000 Unamortized discount on bonds
The December 31, 2018 balance sheet of Wolfe Co included the following items:
7.5% bonds payable due December 31, 2026 $3,000,000
Unamortized discount on bonds payable 120,000
The bonds were issued on December 31, 2016 at 95, with interest payable on June 30 and December 31. Straight-line amortization.
On April 1, 2019, Wolfe retired $600,000 of these bonds at 101 plus accrued interest.
How do I prepare the journal entries for the above retirement?
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Fundamentals Of Cost Accounting
Authors: William Lanen, Shannon Anderson
2nd Edition
0071332618, 978-0071332613
