A company retired $60 million of its 6% bonds at 102 ($61.2 million) before their scheduled maturity.

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A company retired $60 million of its 6% bonds at 102 ($61.2 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $2 million. Prepare the journal entry to record the redemption of the bonds.

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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Question Posted: Jul 05, 2013 06:50 AM

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A company retired $60 million of its 6% bonds at 102 ($61.2 million) before their scheduled maturity.

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in millions Bonds payable face amo...View the full answer

Intermediate Accounting

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