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The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the redemption of the bonds. Cheyenne Corp.
The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the redemption of the bonds. Cheyenne Corp. redeemed $122,000 face value, 9% bonds on April 30, 2022, at 104. The carrying value of the bonds at the redemption date was $110,166. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Apr. 30 eTextbook and Media List of Accounts Sage Hill, Inc. redeemed $161.000 face value, 13.5% bonds on June 30, 2022, at 99. The carrying value of the bonds at the redemption date was $173,880. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jun. 30 e Textbook and Media List of Accounts
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