Beta Corp redeems $200,000 (face value) of its bonds at 99. All entries relating to the bonds have been posted up to date, and the bonds' carrying amount at this time is $204,600. The entry to record the redemption will include a
A)debit to Cash of $198,000.
B)debit to Bonds Payable of $200,000.
C)debit to Bonds Payable of $204,600.
D)debit to Gain on Redemption of $6,600.

Question

Quizplus · Accepted Answer

The Answer of Beta Corp redeems $200,000 (face value) of its bonds at 99. All entries relating to the bonds have been posted up to date, and the bonds' carrying amount at this time is $204,600. The entry to record the redemption will include a
A)debit to Cash of $198,000.
B)debit to Bonds Payable of $200,000.
C)debit to Bonds Payable of $204,600.
D)debit to Gain on Redemption of $6,600.

Beta Corp Redeems $200,000 (Face Value) of Its Bonds at 99