Exercise 10-14 The situations presented here are independent of each other For e

Question

Exercise 10-14 The situations presented here are independent of each other For each situation, prepare the appropriate journal entry for the redemption of the bonds. Riverbed Corp redeemed $168,000 face value, 10% bonds on April 30, 2017, at 102. The carrying value of the bonds at the redemption date was $151,800. The bonds pay annual interest, and the interest payment due on April 30, 2017, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 30 SHOW LIST OF ACCOUNTS

Explanation / Answer

BANK A/C DR 171360 INVESTMENT IN BONDS CR 151800 PROFIT ON REDEMPTION CR 19560 BANK A/C DR 221350 LOSS ON REDEMPTION DR 30838 INVESTMENT IN BONDS CR 252188

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.