The situations presented here are independent of each other. For each situation,

Question

The situations presented here are independent of each other.

For each situation, prepare the appropriate journal entry for the redemption of the bonds. The situations presented here are independent of each other.

For each situation, prepare the appropriate journal entry for the redemption of the bonds. Date Account Titles and Explanation Debit Credit Apr. 30 SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS Date Account Titles and Explanation Debit Credit Jun. 30 SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS

Exercise 10-14

The situations presented here are independent of each other.

For each situation, prepare the appropriate journal entry for the redemption of the bonds.

Explanation / Answer

a) Journal entry :

b) Journal entry :

Date accounts & explanation debit credit Bonds payable 148000 Loss on redemption of bonds 17231      Discount on bonds payable 14271      Cash (148000*1.02) 150960 (TO record redemption of bonds)

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