A $490,000 bond issue on which there is an unamortized discount of $30,000 is redeemed for $471,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

A $490,000 bond issue on which there is an unamortized discount of $30,000 is redeemed for $471,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 15MC: Naval Inc. issued $200,000 face value bonds at a discount and received $190,000. At the end of 2018,...

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A $490,000 bond issue on which there is an unamortized discount of $30,000 is redeemed for $471,000. Journalize the redemption of the bonds.
If an amount box does not require an entry, leave it blank.

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