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

question 12

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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Definitions:

Anti-War Movement

Social movements, usually in opposition to a specific war or military conflict, advocating for peace and cessation of conflict.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the late 1940s through the early 1990s, characterized by threats, propaganda, and other measures short of open warfare.

Draft-Age Males

Men within a certain age range who are eligible to be conscripted into military service, typically during times of war.

Women's Liberation

The movement aimed at achieving equality for women in all aspects of society, including political, social, and economic rights.