Redemption of Bonds Payable A $860,000 bond issue on which there is an unamortized premium of...

Question

Question

Redemption of Bonds Payable

A $860,000 bond issue on which there is an unamortized premium of $76,000 is redeemed for $809,000.

Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

Bonds Payable: ________ _________

Premium on Bonds Payable: _________ _________

Gain on Redemption of Bonds __________ _________

Cash: _________ __________

Answer 1

Answer #1

Credit Date Accounts Title and Explaination Bonds Payable Premium on Bonds Payable Gain on Redemption of Bonds Cash Debit $ 8

Answer 2

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