company previously issued usd 2000000 ten percent bonds, Ask an Expert

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problem: A company previously issued USD 2,000,000, ten percent bonds, receiving a USD 120,000 premium. On the current year’s interest date, after the bond interest was paid & after 40 percent of the total premium had been amortized, the company purchased the entire bond issue on the open market at 98 & retired it. Make journal entry to record the retirement of these bonds.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M916412

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