Please fill pictures out:Tyrell Company Issued callable bonds with a par value of $16,000. The call option requires Tyrell to pay a call premium of $500 pluspar (or a total of $16,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call option. The call option Is exerasedafter the semannual interest Is paid the day before on June 30. Record the entry to retire the bonds under each separate situation1. The bonds have a carrying value of $13,500.2 The bonds have a carrying value of $17,000. View transaction etJournal entry worksheet<1Record the retirement of the bonds assuming the bonds have a carrying valueof $13,500.2Note: Enter debits before credits.DateJuly 01Record entryGeneral JournalClear entryDebitCreditView general Journal View transaction BatJournal entry worksheet1Record the retirement of the bonds assuming the bonds have a carrying valueof $17,000.2Note: Enter cebits before credits.DateJuly 01Record entryGeneral JournalClear entryDebitCreditView general Journal

Bond retirement refers to the process of repurchasing or redeeming bonds before their maturity date.…

Answered: Please fill pictures out: Tyrell…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 96PSB

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Please fill pictures out: Tyrell Company Issued callable bonds with a par value of $16,000. The call option requires Tyrell to pay a call premium of $500 plus par (or a total of $16,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call option. The call option Is exerased after the semannual interest Is paid the day before on June 30. Record the entry to retire the bonds under each separate situation 1. The bonds have a carrying value of $13,500. 2 The bonds have a carrying value of $17,000.

View transaction et
Journal entry worksheet
<
1
Record the retirement of the bonds assuming the bonds have a carrying value
of $13,500.
2
Note: Enter debits before credits.
Date
July 01
Record entry
General Journal
Clear entry
Debit
Credit
View general Journal

View transaction Bat
Journal entry worksheet
1
Record the retirement of the bonds assuming the bonds have a carrying value
of $17,000.
2
Note: Enter cebits before credits.
Date
July 01
Record entry
General Journal
Clear entry
Debit
Credit
View general Journal

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