The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the redemption of the bonds. Pina Colada Corp. redeemed $136,000 face value, 9% bonds on April 30, 2022, at 101. The carrying value of the bonds at the redemption date was $122,808. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded. Date Account Titles and Explanation Debit Credit Apr. 30 enter an account title for the journal entry on April 30enter an account title for the journal entry on April 30
The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the redemption of the bonds. Pina Colada Corp. redeemed $136,000 face value, 9% bonds on April 30, 2022, at 101. The carrying value of the bonds at the redemption date was $122,808. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded. Date Account Titles and Explanation Debit Credit Apr. 30 enter an account title for the journal entry on April 30enter an account title for the journal entry on April 30
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The situations presented here are independent of each other.
For each situation, prepare the appropriatejournal entry for the redemption of the bonds.
For each situation, prepare the appropriate
Pina Colada Corp. redeemed $136,000 face value, 9% bonds on April 30, 2022, at 101. The carrying value of the bonds at the redemption date was $122,808. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded.
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Date
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Account Titles and Explanation
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Debit
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Credit
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Apr. 30
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enter an account title for the journal entry on April 30enter an account title for the journal entry on April 30
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