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Posted by: Homeworkhelp
Price Quoted by Student: $3
Posted On: 2011-01-17 03:03:04
 
Question

Lightning, Inc., retired $178,000 face value, 12.5% bonds on June 30, 2007, at 98. The carrying value of the bonds at the redemption date was $184,900. The bonds pay annual interest, and the interest payment due on June 30, 2007, has been made and recorded.

  Date

Account / Description

Debit

Credit

June 30

Bonds payable

$

 

 

 

 

        

 

$

 

          

 

$


Solutions
SOLUTION FV – 178,000; RV – 174,440 CV –
Price $3
Attachment 1: Lightning, Inc.doc
Solution Posted By: Homeworkhelp    Posted on: 17-01-2011