Delta Company issued bonds with a face amount of $1,500,000 in 2005. As of January 1, 2010, the balance in Discount on Bonds Payable is $4,800. At that time, Delta redeemed the bonds at 101.
Instructions
Assuming that no interest is payable, make the entry to record the redemption.

Question

Quizplus · Accepted Answer

The Answer of Delta Company issued bonds with a face amount of $1,500,000 in 2005. As of January 1, 2010, the balance in Discount on Bonds Payable is $4,800. At that time, Delta redeemed the bonds at 101.
Instructions
Assuming that no interest is payable, make the entry to record the redemption.

Delta Company Issued Bonds with a Face Amount of $1,500,000