Question: A $200,000 bond issue was reacquired before maturity at a price of 102. The Discount on Bonds Payable account has a balance of $3,000 after
A $200,000 bond issue was reacquired before maturity at a price of 102. The Discount on Bonds Payable account has a balance of $3,000 after amortization was brought up to date, and all interest owed to date has been paid. The required journal entry would include all of the following except a:
credit to Discount on Bonds Payable of $3,000.
debit to Bonds Payable of $200,000.
debit to Loss on Bond Redemption of $3,000.
credit to Cash of $204,000.
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