Business, 11.02.2020 19:54 Angel1107

A company retired $70 million of its 10% bonds at 102 ($71.4 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $2 million. Prepare the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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A company retired $70 million of its 10% bonds at 102 ($71.4 million) before their scheduled maturit...

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