Using the Following Accounts

question 1

Short Answer

Using the following accounts:
[1]Cash
[2]Sinking fund
[3]Equipment
[4]Building
[5]Land
[6]Accounts payable
[7]Notes payable
[8]Bond payable
[9]Bond interest expense payable
[10]Premium on bonds payable
[11]Discount on bonds payable
[12]Common stock
[13]Retained earnings
[14]Sinking fund earned
[15]Bond interest expense
[16]Gain on retirement
[17]Loss on retirement
Indicate the account(s) to be debited and credited to record the following transactions.
-Retired bonds plus interest previously accrued when the retirement value was above the cost of retirement,cash was paid.
Debit ________ & ________ & ________ Credit ________ & ________ & ________

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Definitions:

Sherman Act

A foundational antitrust law in the United States, aimed at promoting fair competition and prohibiting monopolies.

Unfair Methods

Practices in trade or business that are deemed deceptive, fraudulent, or against the competition law, harming consumers or competitors.

Sherman Act

A United States antitrust law enacted in 1890 to prohibit monopolies and prohibit business activities that prevent or restrict competition in interstate commerce.

Monopoly Power

The exclusive control by one company over an entire industry or sector, allowing for the setting of prices and lack of competition.