How to record the redemption of bonds
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Prepare the journal entries to record the payment of interest and amortization of debt issue costs on December 31, 2016.
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Prepare the journal entry by Twin Digital to record the redemption of the bonds on July 1, 2016.
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At January 1, 2016, Brant Cargo acquired equipment by issuing a five-year, $150,000 (payable at maturity), 4% note.
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