A Redemption of bonds payable A $1,500,000 bond issue on which there is an unaumortized discount of $70,100 is redeemed for $1,455,000. Journalize the redemption of the bonds.
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A Redemption of bonds payable
A $1,500,000 bond issue on which there is an unaumortized discount of $70,100 is redeemed for $1,455,000. Journalize the redemption of the bonds.
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- Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable semiannually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of discountDixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $480,000. Interest is payable annually. The discount is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30, 2019: entry to record amortization of discount D. June 30, 2020: entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of discountVolunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $540,000. Interest is payable annually. The premium is amortized using the straightline method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. June 30, 2019: entry to record payment of interest to bondholders C. June 30, 2019: entry to record amortization of premium D. June 30, 2020: entry to record payment of interest to bondholders E. June 30, 2020: entry to record amortization of premium
- Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018, and received $540,000. Interest is payable semi-annually. The premium is amortized using the straight-line method. Prepare journal entries for the following transactions. A. July 1, 2018: entry to record issuing the bonds B. Dec. 31, 2018: entry to record payment of interest to bondholders C. Dec. 31, 2018: entry to record amortization of premiumA Redemption of bonds payable A $1,500,000 bond issue on which there is an unamortized discount of$70,100 is redeemed for $1,455,000. Journalize the redemption of thebonds.Redemption of bonds payable A $2,000,000 bond issue on which there is an unamortized premium of $87,000 is redeemed for $1,960,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.
- An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000. Journalize the redemption of the bonds. Refer to the Chart of Accounts for exact wording of account titles.Redemption of bonds payable A $1,200,000 bond issue on which there is an unamortized premium of $63,956 deemed for $1,250,000. Journalize the redemption of the bonds.A $540,000 bond issue on which there is an unamortized discount of $45,000 is redeemed for $446,000. Required: Journalize the redemption of the bonds.
- Instructions On December 31, a $1,000,000 bond issue on which there is an unamortized discount of $71,600 is redeemed for $948,500. Journalize the redemption of the bonds. Refer to the Chart of Accounts for exact wording of account titles. Journal Journalize the redemption of the bonds. Refer to the Chart of Accounts for exact wording of account titles. 1 2 3 4 DATE DESCRIPTION JOURNAL I POST. REF. DEBIT CREDIT ACCOUNTING ASSETS LIABILITShow Me How Redemption of Bonds Payable An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.A $505,000 bond issue on which there is an unamoritizer discount of $37,000 is redeemed for $447,000. journalize the redemption of the bonds