Belle Corporation Retires Its Bonds at 105 on January 1

question 21

Multiple Choice

Belle Corporation retires its bonds at 105 on January 1 following the payment of annual interest. The face value of the bonds is $600000. The carrying value of the bonds at the redemption date is $621500. The entry to record the redemption will include a

• A) credit of $21500 to Loss on Bond Redemption.
• B) debit of $30000 to Premium on Bonds Payable.
• C) credit of $8500 to Gain on Bond Redemption.
• D) debit of $21500 to Premium on Bonds Payable.

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Definitions:

Tissue Types

Categories of tissues in the body, including epithelial, connective, muscle, and nervous tissues, each serving specific functions.

Cells

The basic structural, functional, and biological unit of all known living organisms, the building blocks of life.

Organs

Structures consisting of various tissues that perform specific functions within an organism.

Cell

The basic structural, functional, and biological unit of all living organisms, enclosed by a plasma membrane and containing organelles and genetic material.