Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2014 balance sheet of Wolfe Co. included the following items: The bonds were issued on December 31, 2012 at 95, with interest payable on June 30 and December 31. (Use straight-line amortization.)On April 1, 2015, Wolfe retired $400,000 of these bonds at 101 plus accrued interest.

Question

Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2014 balance sheet of Wolfe Co. included the following items:  The bonds were issued on December 31, 2012 at 95, with interest payable on June 30 and December 31. (Use straight-line amortization.)On April 1, 2015, Wolfe retired $400,000 of these bonds at 101 plus accrued interest.

Quizplus · Accepted Answer

The Answer of Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2014 balance sheet of Wolfe Co. included the following items:  The bonds were issued on December 31, 2012 at 95, with interest payable on June 30 and December 31. (Use straight-line amortization.)On April 1, 2015, Wolfe retired $400,000 of these bonds at 101 plus accrued interest.

Prepare Journal Entries to Record the Following Retirement