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The balance sheet for marin co include 7.5% bonds payable

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The balance sheet for marin co include 7.5% bonds payable due december 31, 2018 for $1,600,000. Unamortized discount on bonds payable for $64,000. The bonds were issued on dec 31, 2008 at 95 with interest payable on june 30 and december 31(straight line). On january 1 2011 marin retire $640,000 of these bonds at 101. what are the journal entry to record the retirement?

 

Paper#26126 | Written in 18-Jul-2015

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