Question: Question 5 of 7 -11 Current Attempt in Progress The following section is taken from Hardesty's balance sheet at December 31, 2019 Current liabilities Interest

Question 5 of 7 -11 Current Attempt in Progress The following section is taken from Hardesty's balance sheet at December 31, 2019 Current liabilities Interest payable Long-term liabilities Bonds payable (8%, due January 1, 2023) $ 40,000 500,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. (a) (b) Journalize the payment of the bond interest on January 1, 2020. Assume that on January 1, 2020, after paying interest, Hardesty calls bonds having a face value of $200,000. The call or is 103. Record the redemption of the bonds. Prepare the adjusting entry on December 31, 2020, to accrue the interest on the remaining bonds. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (a) Jan. 1 Question 5 of 7 -/1 Tii is 103. Record the redemption of the bonds. Prepare the adjusting entry on December 31, 2020, to accrue the interest on the remaining bonds. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit (a) Jan. 1 No. Date Credit (b) Jan. 1 (c) Dec. 31 e Textbook and Media

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