2. Tastove Inc. redeemed $150,000 face value, 12.5% bonds on June 30, 2017, at 98. The...
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2. Tastove Inc. redeemed $150,000 face value, 12.5% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was $151,000. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. Instructions For each independent situation above, prepare the appropriate journal entry for the redemption or conversion of the bonds. 2. Tastove Inc. redeemed $150,000 face value, 12.5% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was $151,000. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. Instructions For each independent situation above, prepare the appropriate journal entry for the redemption or conversion of the bonds.
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Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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