The balance sheet for Ivanhoe Consulting reports the following information on July 1, 2022. Long-term liabilities Bonds payable $4,500,000 Less: Discount on bonds payable 315,000 $4,185,000 Ivanhoe decides to redeem these bonds at 101 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022.
The balance sheet for Ivanhoe Consulting reports the following information on July 1, 2022. Long-term liabilities Bonds payable $4,500,000 Less: Discount on bonds payable 315,000 $4,185,000 Ivanhoe decides to redeem these bonds at 101 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022.
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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The balance sheet for Ivanhoe Consulting reports the following information on July 1, 2022.
Long-term liabilities | ||||
Bonds payable | $4,500,000 | |||
Less: Discount on bonds payable | 315,000 | $4,185,000 |
Ivanhoe decides to redeem these bonds at 101 after paying annual interest.
Prepare the
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