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i. The company Sure Win makes an early redemption of bond for $315,000 on July 1, 2022. However, these bonds, with a par
Posted: Mon Apr 25, 2022 7:46 am
by answerhappygod
- I The Company Sure Win Makes An Early Redemption Of Bond For 315 000 On July 1 2022 However These Bonds With A Par 1 (45.15 KiB) Viewed 16 times
i. The
company Sure Win makes an early redemption of bond for $315,000 on July 1, 2022. However, these bonds, with a par value of $300,000, were issued at a premium for $309,000 on the issue date. There is still a remaining unamortized amount of $3,000 of the premium on bonds payable right before the retirement. Required: Prepare the journal entry to record the retirement of the bonds on July 1, 2022. (4 marks)