0 0 Nancy Nancy2023-01-28 08:10:232023-01-28 08:10:23Three years ago american insulation corporation issued 10 12460
Three years ago american insulation corporation issued 10 12460
Three years ago American Insulation Corporation issued 10 percent, $910,000, 8-year bonds for $825,000. Debt issue costs were $5,000. American Insulation exercised its call privilege and retired the bonds for $900,000. The corporation uses the straight-line method both to determine interest and to amortize debt issue costs.Required:Prepare the journal entry to record the call of the bonds.
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