Bramble Corp. retires its $460000 face value bonds at 102 on January 1, following the payment of

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Bramble Corp. retires its $460000 face value bonds at 102 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $442750. The entry to record the redemption will include a

a). credit of $17250 to Loss on Bond Redemption.

b). debit of $9200 to Premium on Bonds Payable.

c). debit of $26450 to Gain on Bond Redemption.

d). credit of $17250 to Discount on Bonds Payable.rn

Related Book For answer-question

Using Financial Accounting Information The Alternative to Debits and Credits

ISBN: 978-1133161646

7th Edition

Authors: Gary A. Porter, Curtis L. Norton

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Posted Date: Aug 26, 2020 12:30 AM

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Bramble Corp. retires its $460000 face value bonds at 102 on January 1, following the payment of

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Using Financial Accounting Information The Alternative to Debits and Credits

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