Kenyon Company issued $1,050,000 of 7%, 20-year bonds at 104 on January 1, 2008. Interest is payable semi-annually on July 1 and January 1. Through January 1, 2019, Kenyon amortized $25,500 of the bond premium. On January 1, 2019, Kenyon retires the bond at 101 (after making the interest payment on that date).
Indicate the journal entry for the bond retirement on January 1, 2019.

Question

Kenyon Company issued $1,050,000 of 7%, 20-year bonds at 104 on January 1, 2008. Interest is payable semi-annually on July 1 and January 1. Through January 1, 2019, Kenyon amortized $25,500 of the bond premium. On January 1, 2019, Kenyon retires the bond at 101 (after making the interest payment on that date). 
Indicate the journal entry for the bond retirement on January 1, 2019.

Quizplus · Accepted Answer

The Answer of Kenyon Company issued $1,050,000 of 7%, 20-year bonds at 104 on January 1, 2008. Interest is payable semi-annually on July 1 and January 1. Through January 1, 2019, Kenyon amortized $25,500 of the bond premium. On January 1, 2019, Kenyon retires the bond at 101 (after making the interest payment on that date). 
Indicate the journal entry for the bond retirement on January 1, 2019.

Kenyon Company Issued $1,050,000 of 7%, 20-Year Bonds at 104