e Chegg Study Guided Sce Chegg Study Guided Sc × \\ e Brief Exercise 9 17 Reco x

Question

e Chegg Study Guided Sce Chegg Study Guided Sc × e Brief Exercise 9 17 Reco x M Chapters 8 & 9 GRADED , Dezto. mheducation.com/hm.tpx value 1.00 points Brief Exercise 9-17 Record early retirement of bonds issued at a premium (LO9-7) Premium Pizza retires its 5% bonds for $67,000 before their scheduled maturity. At the time, the bonds have a face value of $64,500 and a carrying value of $69,491 Record the early retirement of the bonds. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the early retirement of bonds Note: Enter debits before credits Transaction General Journal DebitCredit Record entry Clear entry View general journmal 5:08 PM Type here to search 11/10/2017

Explanation / Answer

1) Record early retirement of bonds

Transaction accounts & explanation debit credit 1 Bonds payable 64500 Premium on bonds payable 4991 Gain on retirement 2491 Cash a/c 67000 (To record retirement of bonds)

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