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The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12 5% bonds having a face am
Posted: Fri Jul 01, 2022 8:37 am
by answerhappygod
- The Balance Sheet Of Indian River Electronics Corporation As Of December 31 2020 Included 12 5 Bonds Having A Face Am 1 (23 KiB) Viewed 29 times
- The Balance Sheet Of Indian River Electronics Corporation As Of December 31 2020 Included 12 5 Bonds Having A Face Am 2 (23 KiB) Viewed 29 times
The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12 5% bonds having a face amount of $91.8 million. The bonds had been issued in 2013 and had a remaining discount of $4.8 million at December 31, 2020. On January 1, 2021, Indian River Electronics called the bonds before their scheduled maturity at the call price of 105. Required: Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 Record the redemption of the bonds.