Prepare the journal entries for redemption of the bond


Issued $100,000 of 30 year bonds at a premium. Prior to maturity, when the carrying value of the bonds was $105,000 scott retired the bonds at 102. Prepare the journal entries for redemption of the bond.

 

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Accounting Basics: Prepare the journal entries for redemption of the bond
Reference No:- TGS088329

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