Present Entries to Record the Selected Transactions Described Below: (A) $\$ 2,750,000$

question 173

Essay

Present entries to record the selected transactions described below: (a) Issued $\$ 2,750,000$ of 10 -year, $8 \%$ bonds at 97 .
(b) Amortized bond discount for a full year, using the straight-line method.
(c) Called bonds at 98 . Assume the bonds were carried at $\$ 2,692,250$ at the time of the redemption.

---

Definitions:

Ellipse

A plane curve encircling two centers where the total distance from any point on the curve to the two centers remains unchanged.

Center

The midpoint or central point of a geometric shape, or a point that is equidistant from all points on the circumference of a circle or sphere.

Hyperbola

A type of smooth curve lying in a plane, defined as the locus of all points that satisfy the equation of the difference of distances from two fixed points (the foci) being constant.

Graph

A visual representation of data or mathematical functions, often plotted on coordinate axes.