Multiple Choice
A company retires its bonds at 105.The carrying value of the bonds at the date of its retirement is $103,745.The issuer's journal entry to record the retirement will include a:
A) Debit to Premium on Bonds.
B) Credit to Premium on Bonds.
C) Debit to Discount on Bonds.
D) Credit to Gain on Bond Retirement.
E) Credit to Bonds Payable.
Correct Answer:
Verified
Correct Answer:
Verified
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