The December 31, 2016, balance sheet of Ming Inc. included 12% bonds with a face amount of
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Question:
The December 31, 2016, balance sheet of Ming Inc. included 12% bonds with a face amount of $100 million. The bonds were issued in 2007 and had a remaining discount of $3,400,000 at December 31, 2016. On January 1, 2017, Ming called the bonds at a price of 102,000,000. Prepare the journal entry by Ming to record the retirement of the bonds on January 1, 2017?
Related Book For
South western Federal Taxation 2017 Corporations, Partnerships, Estates and Trusts
ISBN: 9781305874336
40th edition
Authors: William H. Hoffman, William A. Raabe , David M. Maloney, James C. Young
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