Question
The December 31, 2021, balance sheet of Boston Corporation included 12% bonds with a face amount of $100,000. The bonds were issued in 2009 and
The December 31, 2021, balance sheet of Boston Corporation included 12% bonds with a face amount of
$100,000. The bonds were issued in 2009 and had a remaining discount of $3,400 at December 31, 2021. On January 1, 2022, Boston called the bonds at a price of 102.
Required:
Prepare the journal entry by Boston to record the retirement of the bonds on January 1, 2022.
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
10th edition
9780077515904, 007802529X, 77515900, 978-0078025297
