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Smith Company has issued a $100,000 face value, 7%, five-year bond at 91. What will be the journal entry for the retirement of the bond, assuming the last semiannual interest payment was already recorded? O Bonds Payable Cash O Cash Bonds Payable O Bonds Payable Cash OO O Cash Bonds Payable 100,000 100,000 91,000 91,000 100,000 100,000 91,000 91,000

Smith Company has issued a $100,000 face value, 7%, five-year bond at 91. What will be the journal entry for the retirement of the bond, assuming the last semiannual interest payment was already recorded? O Bonds Payable Cash O Cash Bonds Payable O Bonds Payable Cash OO O Cash Bonds Payable 100,000 100,000 91,000 91,000 100,000 100,000 91,000 91,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Smith Company has issued a $100,000 face value, 7%, five-year bond at 91. What will be the journal entry for the retirement of the bond, assuming the last semiannual interest payment was already recorded? Bonds Payable Cash Cash Bonds Payable Bonds Payable Cash Cash Bonds Payable 100,000 100,000 91,000 91,000 100,000 100,000 91,000 91,000
Transcribed Image Text:Smith Company has issued a $100,000 face value, 7%, five-year bond at 91. What will be the journal entry for the retirement of the bond, assuming the last semiannual interest payment was already recorded? Bonds Payable Cash Cash Bonds Payable Bonds Payable Cash Cash Bonds Payable 100,000 100,000 91,000 91,000 100,000 100,000 91,000 91,000
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