Dechow, Inc., issued $250,000 of 8%, 15-year bonds at 96 on July 1, 2012. Interest is payable
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Question:
Dechow, Inc., issued $250,000 of 8%, 15-year bonds at 96 on July 1, 2012. Interest is payable semiannually on December 31 and June30. Through June 30, 2019, Dechow amortized $3,186 of the bond discount. On July 1, 2019, Dechow retired the bonds at 101.
Required:
Prepare journal entries to (i.) record the issue and (ii.) retirement of these bonds. (Assume the June interest expense has already been paid).
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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