Valdez Corporation has outstanding $1,500,000 of 10 percent bonds callable at 103.On July 1,a semi-annual interest payment date,the unamortized bond premium equaled $60,000.On that date,$900,000 of the bonds were called and retired.Prepare an entry in journal form without explanation to record the retirement of the bonds on July 1.

Question

Valdez Corporation has outstanding $1,500,000 of 10 percent bonds callable at 103.On July 1,a semi-annual interest payment date,the unamortized bond premium equaled $60,000.On that date,$900,000 of the bonds were called and retired.Prepare an entry in journal form without explanation to record the retirement of the bonds on July 1.
Valdez Corporation has outstanding $1,500,000 of 10 percent bonds callable at 103.On July 1,a semi-annual interest payment date,the unamortized bond premium equaled $60,000.On that date,$900,000 of the bonds were called and retired.Prepare an entry in journal form without explanation to record the retirement of the bonds on July 1.

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The Answer of Valdez Corporation has outstanding $1,500,000 of 10 percent bonds callable at 103.On July 1,a semi-annual interest payment date,the unamortized bond premium equaled $60,000.On that date,$900,000 of the bonds were called and retired.Prepare an entry in journal form without explanation to record the retirement of the bonds on July 1.

Valdez Corporation Has Outstanding $1,500,000 of 10 Percent Bonds Callable