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The ones in red are wrong. The following are two independent situations. 1. Cullumber pic. redeemed 140,000 face value, 11% bonds on June 30,2020 ,
The ones in red are wrong.
The following are two independent situations. 1. Cullumber pic. redeemed 140,000 face value, 11% bonds on June 30,2020 , at 102 . The carrying value of the bonds at the redemption date was E127.500. The bonds pay annual interest, and the interest payment due on June 30.2020, has been made and recorded. 2. Tastove Inc, redeemed 143,000 face value, 13% bonds on June 30,2020 , at 96 . The carrying value of the bonds at the redemption date was E144.150. The bonds pay annual interest, and the interest payment due on June 30,2020 . has been made and recorded. For each independent situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Step by Step Solution
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