Health First Ltd. retires its 8% bonds for $74,000 before its maturity date. Carrying value at the time of retiring such bonds was $78,693. Record the entry for retirement of bonds. о О Date Description Cash Bonds Payable To record the retirement of bonds before maturity) Date Bonds Payable Gain on Bonds Retirement Cash Description To record the retirement of bonds before maturity) Date Bonds Payable Cash Description To record the retirement of bonds before maturity) Date Bonds Payable Cash Description To record the retirement of bonds before maturity) Ref. Debit in S) $ Credit(in 5) 78.693 S 78,693 Ref. Debit(in 5) Credit(in 5) $ 78694 S 4,693 $ 74,000 Ref Debit(in S) Credit(in S $ 78,693 $ 78,693 Ref. Debit in 5). Credit in 5) S 74,000 $ 74,000
Health First Ltd. retires its 8% bonds for $74,000 before its maturity date. Carrying value at the time of retiring such bonds was $78,693. Record the entry for retirement of bonds. о О Date Description Cash Bonds Payable To record the retirement of bonds before maturity) Date Bonds Payable Gain on Bonds Retirement Cash Description To record the retirement of bonds before maturity) Date Bonds Payable Cash Description To record the retirement of bonds before maturity) Date Bonds Payable Cash Description To record the retirement of bonds before maturity) Ref. Debit in S) $ Credit(in 5) 78.693 S 78,693 Ref. Debit(in 5) Credit(in 5) $ 78694 S 4,693 $ 74,000 Ref Debit(in S) Credit(in S $ 78,693 $ 78,693 Ref. Debit in 5). Credit in 5) S 74,000 $ 74,000
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 6PA: Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...
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![Health First Ltd. retires its 8% bonds for $74,000 before its maturity date. Carrying value at the time of retiring such bonds was $78,693.
Record the entry for retirement of bonds.
о
О
Date
Description
Cash
Bonds Payable
To record the retirement of bonds before maturity)
Date
Bonds Payable
Gain on Bonds Retirement
Cash
Description
To record the retirement of bonds before maturity)
Date
Bonds Payable
Cash
Description
To record the retirement of bonds before maturity)
Date
Bonds Payable
Cash
Description
To record the retirement of bonds before maturity)
Ref. Debit in S)
$
Credit(in 5)
78.693
S
78,693
Ref. Debit(in 5)
Credit(in 5)
$
78694
S 4,693
$ 74,000
Ref Debit(in S) Credit(in S
$ 78,693
$ 78,693
Ref. Debit in 5).
Credit in 5)
S
74,000
$ 74,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe193969f-118e-4f6f-bd6f-fadb6fffcc9a%2F0053e88b-9a70-47f1-9379-6d40069627f1%2Fm99iac_processed.png&w=3840&q=75)
Transcribed Image Text:Health First Ltd. retires its 8% bonds for $74,000 before its maturity date. Carrying value at the time of retiring such bonds was $78,693.
Record the entry for retirement of bonds.
о
О
Date
Description
Cash
Bonds Payable
To record the retirement of bonds before maturity)
Date
Bonds Payable
Gain on Bonds Retirement
Cash
Description
To record the retirement of bonds before maturity)
Date
Bonds Payable
Cash
Description
To record the retirement of bonds before maturity)
Date
Bonds Payable
Cash
Description
To record the retirement of bonds before maturity)
Ref. Debit in S)
$
Credit(in 5)
78.693
S
78,693
Ref. Debit(in 5)
Credit(in 5)
$
78694
S 4,693
$ 74,000
Ref Debit(in S) Credit(in S
$ 78,693
$ 78,693
Ref. Debit in 5).
Credit in 5)
S
74,000
$ 74,000
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