Valdez Corporation has outstanding $1,500,000 of 10 percent bonds callable at 103. On July 1, a semiannual 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 semiannual 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 semiannual 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 semiannual 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