Weygandt, Accounting Principles, 12e Exercise 175 Stengle company retired $500,0

Question

Weygandt, Accounting Principles, 12e Exercise 175 Stengle company retired $500,000 face value, 9% bonds on June 30, 2017 at 96. The carrying value of the bonds at the redemption date was $50,000 renk repare he joumnal eaty to record the redemation of the bands. (Crendit account ties ae automatically indented when the amount is entoredt Do not indent Account Titles and Explanation Debit Credit -12 Click if you would like to Show Work for this question: Onen Show.Work 2n 02 Question Attempts: O of 15 used SAVE FOR LATER bx shared/assignment/ test/aglst.uni?id-asnmt2042322N10137 ID 5

Explanation / Answer

Account titles & explanations Debit Credit Bonds payable 500,000 premium on bonds 8,000 Gain on redemption of bonds 28,000 Cash (500,000*.96) 480000

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