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An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000.
Journalize the redemption of the bonds. Refer to the Chart of Accounts for exact wording of account titles.An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000.
A. Journalize the redemption of the bonds. Refer to the Chart of Accounts for exact wording of account titles.
B.
| CHART OF ACCOUNTS | |
| General Ledger | |
ASSETS110Cash111Petty Cash121Accounts Receivable122Allowance for Doubtful Accounts126Interest Receivable127Notes Receivable131Merchandise Inventory141Office Supplies191Land194Office Equipment195Accumulated Depreciation-Office Equipment LIABILITIES210Accounts Payable221Salaries Payable231Sales Tax Payable232Interest Payable241Notes Payable251Bonds Payable252Discount on Bonds Payable253Premium on Bonds Payable EQUITY311Common Stock312Paid-In Capital in Excess of Par-Common Stock315Treasury Stock321Preferred Stock322Paid-In Capital in Excess of Par-Preferred Stock331Paid-In Capital from Sale of Treasury Stock340Retained Earnings351Cash Dividends352Stock Dividends | REVENUE410Sales610Interest Revenue611Gain on Redemption of Bonds |
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An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for...
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CHART OF ACCOUNTS Thomson Co. General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable...
CHART OF ACCOUNTS
Thomson Co.
General Ledger
ASSETS
110
Cash
111
Petty Cash
121
Accounts Receivable
122
Allowance for Doubtful Accounts
126
Interest Receivable
127
Notes Receivable
131
Merchandise Inventory
141
Office Supplies
142
Store Supplies
151
Prepaid Insurance
191
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
210
Accounts Payable
221
Salaries Payable
231
Sales Tax Payable
232
Interest Payable
241
Notes Payable
251
Bonds Payable
252
Discount on Bonds Payable...
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Entries for issuing and calling bonds; gain Instructions Chart of Accounts Journal Instructions Mia Breen Corp. produces and sells wind-energy-driven engines. To finance its operations, Mia Breen issued $32,700,000 of 20-year, 6% callable bonds on May 1, Year 1, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions. Refer to the Chart of Accounts for exact wording...
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Entries for issuing and calling bonds; loss Instructions Chart of Accounts Journal Instructions Adele Corp., a wholesaler of music equipment, issued $32,700,000 of 20-year, 6% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions. Refer to the Chart of Accounts for exact wording of account bites 2011 1 1...
Please help with these questions. Read information carefully!
On January 1, 20Y2, Hebron Company issued a $251.000. five-year. 5% installment note to Ventsam Bank. The note requires annual payments of $57.975, beginning on December 20Y2. Journalize the entries to record the following transactions. Refer to the Chart of Accounts for exact wording of account titles. 20Y2 Jan. 1 Issued the note for cash at its face amount. Dec. 31 Paid the annual payment on the note, which consisted of interest...
CHART OF ACCOUNTS
Thomson Co.
General Ledger
ASSETS
110
Cash
111
Petty Cash
121
Accounts Receivable
122
Allowance for Doubtful Accounts
126
Interest Receivable
127
Notes Receivable
131
Merchandise Inventory
141
Office Supplies
142
Store Supplies
151
Prepaid Insurance
191
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
210
Accounts Payable
221
Salaries Payable
231
Sales Tax Payable
232
Interest Payable
241
Notes Payable
251
Bonds Payable
252
Discount on Bonds Payable...
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