Instructions

Chart or Accounts

Instructions

On December $31,$ a $$1,550,000$ bond issue on which there is an unamortized discount of $$73,900$ is redeemed for $$1,500,600.$

Required:

Journalize the redemption of the bonds. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Journal

Journalize the redemption of the bonds. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line indent a credit entry when a credit amount is entered.

How does grading work?

JOURNAL

Score: $\frac{44}{49}$

PAGE $10$

$\backslash$table$[[,,,$JOURNAL,,,Score: $\frac{44}{49},$ACl,JNTING EQU,ION$],[,$DATE,DESCRIPTION,,POST. REF.,DEBIT,CREDIT,ASSETS,LIABILITIES,EQUITY$],[1,$Dec$31,$Bonds Payable,$,,1,550,000\mathrm{.}00,,,$darr,$],[2,,$Loss on Redemption of Bonds,$7,,,,,,],[3,,$Discount on Bonds Payable,$d,,,73\mathrm{.}900{\mathrm{.}00}^{},,$uarr,$],[4,,$Cash,$,,,,4,,]]$