The December 31, 2023, balance sheet of ABC Co. included the following items:

7.5% bonds payable due December 31, 2026

$320,000

Unamortized discount on bonds payable

8,400

The bonds were issued on December 31, 2018, at 95, with interest payable on June 30 and December 31. On January 1, 2024, ABC retired the bonds at 101.

Required:

Prepare the journal entry for the retirement of bonds.

prepare the amortization table

Ex. 5- Retirement of bonds - Homework problem The December 31, 2023, balance sheet of ABC Co. included the following items: 7.5% bonds payable due December 31, 2026 Unamortized discount on bonds payable $320,000 8,400 The bonds were issued on December 31, 2018, at 95, with interest payable on June 30 and December 31. On January 1, 2024, ABC retired the bonds at 101. Required: Prepare the journal entry for the retirement of bonds. During the test, I will provide additional instructions.