Assume that the bonds are redeemed on december 31 2014 at


Gain or Loss on Bonds

Assume that the bonds are redeemed on December 31, 2014, at 102.

Required

1. Calculate the gain or loss on bond redemption.

2. What journal entry should be recorded at the time of bond redemption?

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Accounting Basics: Assume that the bonds are redeemed on december 31 2014 at
Reference No:- TGS01262529

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