Weiss Corporation issued $1,200,000 of 10%, 20‑year bonds at 106 on January 1, 2015. Interest is payable semiannually on June 30 and December 31. Through January 1, 2020, Weiss amortized $20,000 of the bond premium. On January 1, 2020, Weiss retired the bonds at 103. Use the financial statement effects template to illustrate the bond retirement at January 1, 2020.

Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction.
Note: Indicate a decrease in an account category by including a negative sign with the amount.
Note: Round your answers to the nearest whole dollar.

	Balance Sheet									Income Statement
Transaction	Cash Asset	+	Noncash Assets	=	Liabilities	+	Contrib. Capital	+	Earned Capital	Revenues	–	Expenses	=	Net Income
To retire bonds	Answer		Answer	=	Answer		Answer		Answer	Answer	–	Answer	=	Answer
	AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A		AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A		AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A		AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A		AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A	AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A		AnswerAccounts payableCashGain on bond retirementInterest expenseInterest revenueLong term debtLoss on bond retirementRetained earningsN/A