Question
Redemption of Bonds Payable A $850,000 bond issue on which there is an unamortized premium of...
Redemption of Bonds Payable A $850,000 bond issue on which there is an unamortized premium of $73,000 is redeemed for $821,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable 850,000 Bonds -44,000 Bonds Payable yable 73,000 Cash 821,000 Gain on Redemption of Bonds Interest Expense Interest Payable Notes Payable
Redemption of Bonds Payable A $850,000 bond issue on which there is an unamortized premium of $73,000 is redeemed for $821,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable 850,000 Gain on Redemption of Bonds -44,000 73,000 Cash 821,000 Interest Expense Interest Payable Gain on Redemption of Bonds Premium on Bonds Payable Notes Payable
Redemption of Bonds Payable A $850,000 bond issue on which there is an unamortized premium of $73,000 is redeemed for $821,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable 850,000 Gain on Redemption of Bonds -44,000 Premium on Bonds Payable 73,000 821,000 Cash Interest Expense Interest Payable Gain on Redemption of Bonds Premium on Bonds Payable Notes Payable
Redemption of Bonds Payable A $850,000 bond issue on which there is an unamortized premium of $73,000 is redeemed for $821,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable Gain on Redemption of Bonds Premium on Bonds Payable Cash Bonds Payable Cash Interest Expense Interest Payable Notes Payable
Answers
a) Journal entry Bond redemption
Date General Journal Debit Credit Bonds payable 850000 Premium on bonds payable 73000 Gain on redemption of bonds 102000 Cash 821000 (To record bond redemption)
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