A Company Retires Its Bonds with a Face Value of $100,000

question 79

Multiple Choice

A company retires its bonds with a face value of $100,000 at 105.The carrying value of the bonds at the retirement date is $103,745.The journal entry to record this retirement will include a:

• A)debit to Premium on bonds payable.
• B)credit to Gain on bond retirement.
• C)credit to Bonds payable.
• D)debit to Discount on bonds payable.

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