Brief Exercise 14-9On January 1, 2017, Flounder Corporation redeemed $410,000 of bonds at 97. At the time of redemption, the unamortized premium was $12,300. Prepare the corporation’s journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548.) Account Titles and ExplanationDebitCredit
Brief Exercise 14-9On January 1, 2017, Flounder Corporation redeemed $410,000 of bonds at 97. At the time of redemption, the unamortized premium was $12,300. Prepare the corporation’s journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548.) Account Titles and ExplanationDebitCredit
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.10E
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Brief Exercise 14-9
On January 1, 2017, Flounder Corporation redeemed $410,000 of bonds at 97. At the time of redemption, the unamortized premium was $12,300.
Prepare the corporation’s
Account Titles and Explanation
Debit
Credit
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