Queen Company issued bonds with a face amount of $2,000,000 in 2015. As of January 1, 2018, the balance in Discount on Bonds Payable is $6,000. At that time, Queen redeemed the bonds at 102.
Instructions
Assuming that no interest is payable, make the entry to record the redemption.

Question

Quizplus · Accepted Answer

The Answer of Queen Company issued bonds with a face amount of $2,000,000 in 2015. As of January 1, 2018, the balance in Discount on Bonds Payable is $6,000. At that time, Queen redeemed the bonds at 102.
Instructions
Assuming that no interest is payable, make the entry to record the redemption.

Queen Company Issued Bonds with a Face Amount of $2,000,000