Brief Exercise 9-18 (Algo) Record early retirement of bonds issued at a discount (LO9-6) Discount Pizza retires its 6% bonds for $50,000 before their scheduled maturity. At the time, the bonds have a face amount of $52,200 and a carrying value of $48,313. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the early retirement of bonds. >

Brief Exercise 9-18 (Algo) Record early retirement of bonds issued at a discount (LO9-6) Discount Pizza retires its 6% bonds for $50,000 before their scheduled maturity. At the time, the bonds have a face amount of $52,200 and a carrying value of $48,313. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the early retirement of bonds. >

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 10RE: On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity...

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On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity bonds. On that date, the carrying value of the bonds is 38,500 and the fair value is 22,980. Franz evaluation of this investment reveals that expected credit losses are 10,000. Prepare the journal entry to record the impairment.