Dweeb Industries decided to appropriate $40,000 of retained earnings during each of the last five years its $200,000, 8%, 10-year bonds that are outstanding. The bonds were issued October 1, 2019. Prepare the journal entry to record the initial appropriation on October 1, 2025, and at retirement of the bonds on October 1, 2029.

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The Answer of Dweeb Industries decided to appropriate $40,000 of retained earnings during each of the last five years its $200,000, 8%, 10-year bonds that are outstanding. The bonds were issued October 1, 2019. Prepare the journal entry to record the initial appropriation on October 1, 2025, and at retirement of the bonds on October 1, 2029.

Dweeb Industries Decided to Appropriate $40,000 of Retained Earnings During