Premium Pizza retires its 7% bonds for $63,000 before their scheduled maturity. At the time, the bonds have a face amount $60,900 and a carrying value of $65,343. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Premium Pizza retires its 7% bonds for $63,000 before their scheduled maturity. At the time, the bonds have a face amount $60,900 and a carrying value of $65,343. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Brief Exercise 9-19 (Algo) Record early retirement of bonds issued at a premium (LO9-6)
Premium Pizza retires its 7% bonds for $63,000 before their scheduled maturity. At the time, the bonds have a face amount of $60,900
and a carrying value of $65,343.
Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry
Required" in the first account field.)
View transaction list
Journal entry worksheet
< 1
Record the early retirement of bonds.
Note: Enter debits before credits.
Transaction
1
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
>
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