(Refunding) Prepare the journal entry needed in an Enterprise Fund to record the following transaction. Paid the...
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(Refunding) Prepare the journal entry needed in an Enterprise Fund to record the following transaction.
Paid the $8,000,000 into an irrevocable trust to defease in substance the previously outstanding bonds payable of the Enterprise Fund. These old bonds have a par value of $7,200,000 and an unamortized discount of $100,000. The old bonds are scheduled to mature in six years.
Related Book For
Bank Management and Financial Services
ISBN: 978-0078034671
9th edition
Authors: Peter Rose, Sylvia Hudgins
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