Question: Repayment before Maturity Date: Example Given: Existing debt: $800,000 Called and cancelled at: $808,000 Unamortized discount: $ 14,400 . Note: Discount has been amortized up

Repayment before Maturity Date: Example Given: Existing debt: $800,000 Called and

Repayment before Maturity Date: Example Given: Existing debt: $800,000 Called and cancelled at: $808,000 Unamortized discount: $ 14,400 . Note: Discount has been amortized up to the date of cancellation of debt. Give the journal entry for the extinguishment

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