Universal Maintenance Co issues $700,000 of 9 50 bonds on July 1, 2020 Additional information on the bond issue is as follows Bond date January 1, 2020 Maturity date January 1, 2030 Yield rate 15 Interest payment dates June 30, December 31 Enter an appropriate description when entering the transact...

b Journal Entry for Bond Redemption on November 1 2025 Description Redemption of 30 of Bonds Issued ...

Universal Maintenance Co. issues $700,000 of 9.50% bonds on July 1, 2020. Additional information on the bond

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Universal Maintenance Co. issues $700,000 of 9.50% bonds on July 1, 2020. Additional information on the bond issue is as follows:

Bond date		January 1, 2020
Maturity date		January 1, 2030
Yield rate		15%
Interest payment dates		June 30, December 31

Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places.

b) On November 1, 2025, the company called and cancelled 30% of the bonds for the market price of 101 plus accrued interest. Record the entry for the sale of the bond. (Note: interest was paid on June 30, 2025) .