Record the retirement of the bernard ltd bonds on december, Financial Accounting

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Record the retirement of the bernard ltd bonds on december

Problem

On January 1, 2021, Bernard Ltd. issues 800 6% bonds with a face value of $1 000. The bonds mature on December 31, 2024 and pay interest semi-annually. make all the necessary journal entries to record the issue of the bonds for each of the following scenarios.

a) bonds sold at 104%
b) bonds sold at 100%
c) bonds sold at 97%

A. Record the bond interest expense on June 30, 2021 for each of the above scenarios.
B. Record the retirement of the Bernard Ltd. bonds on December 31, 2024.

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Financial Accounting: Record the retirement of the bernard ltd bonds on december

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Financial Accounting: Record the retirement of the bernard ltd bonds on december

Reference No:- TGS03358913

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