A company retired $76 million of its 8% bonds at 105 ($79.8 million) before their scheduled...

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A company retired $76 million of its 8% bonds at 105 ($79.8 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $1 million. Prepare the Journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place (L.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the redemption of the bonds. mces Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry Vew general journal A company retired $76 million of its 8% bonds at 105 ($79.8 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $1 million. Prepare the Journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place (L.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the redemption of the bonds. mces Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry Vew general journal

Answer rating: 100% (QA)

1 Debit Bonds payab... View the full answer