On January 1, 2016, High Shots issued $250,000 of 11% ten-year bonds at 104. Issuance costs amounted to $3,000.
Bond premium is amortized on straight-line basis. On July 1, 2022, 40% of the bonds were called at 104.
Required:
Record the retirement of the bonds. Ignore interest and use straight-line amortization.

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The Answer of On January 1, 2016, High Shots issued $250,000 of 11% ten-year bonds at 104. Issuance costs amounted to $3,000.
Bond premium is amortized on straight-line basis. On July 1, 2022, 40% of the bonds were called at 104.
Required:
Record the retirement of the bonds. Ignore interest and use straight-line amortization.

On January 1, 2016, High Shots Issued $250,000 of 11