When bonds are retired at maturity,assuming the last interest payment has already been recorded,the journal entry includes a debit to the Bonds Payable account and a credit to the Cash account.

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When bonds are retired at maturity, the company pays the bondholders the principal amount and any remaining interest. This results in a decrease in the Bonds Payable account (debit) and a decrease in the Cash account (credit). Therefore, the journal entry would include a debit to Bonds Payable and a credit to Cash.

When Bonds Are Retired at Maturity,assuming the Last Interest Payment