On January 1, 2017, Jamil Incorporated redeemed bonds prior to their maturity date of January 1, 2018.

Question:

On January 1, 2017, Jamil Incorporated redeemed bonds prior to their date of January 1, 2018. The of the bonds was $800,000, and the redemption was performed at 97. As at the redemption date, the unamortized premium was $6,500. Prepare the corporation's journal entry to record the redemption of the bonds.
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the... Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...