Question
The long-term liability section of Johnson Laboratories balance sheet as of December 31, 2014, included 10% bonds having a face amount of $230 million and
The long-term liability section of Johnson Laboratories balance sheet as of December 31, 2014, included 10% bonds having a face amount of $230 million and a remaining premium of $9.8 million. On January 2, 2015, Johnson retired some of the bonds before their scheduled maturity.
Required: Prepare the journal entry by Johnson to record the redemption of the bonds under each of the independent circumstances below:
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Accounting An Introduction
Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
