Tyrell Company issued callable bonds with a par value of $38,000. The call option requires tyrell...

Transcribed Image Text:

Tyrell Company issued callable bonds with a par value of $38,000. The call option requires tyrell to pay a call premium of $50 par (or a total of $38,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call option. The call option is exerc after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds under each separate situa 1. The bonds have a carrying value of $30,000. 2. The bonds have a carrying value of $39,000. View transaction list Journal entry worksheet < 1 2 Record the retirement of the bonds assuming the bonds have a carrying value of $30,000. Note: Enter debits before credits. Date July 01 General Journal Debit Credit Record entry Clear entry View general journal Tyrell Company issued callable bonds with a par value of $38,000. The call option requires tyrell to pay a call premium of $50 par (or a total of $38,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call option. The call option is exerc after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds under each separate situa 1. The bonds have a carrying value of $30,000. 2. The bonds have a carrying value of $39,000. View transaction list Journal entry worksheet < 1 2 Record the retirement of the bonds assuming the bonds have a carrying value of $30,000. Note: Enter debits before credits. Date July 01 General Journal Debit Credit Record entry Clear entry View general journal