Really stuck and confused on this How would this look like in a JE if...
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Accounting
Really stuck and confused on this
How would this look like in a JE if the trial balance shows BP 8% 500,000 in 2018 and the discount on BP is 25,381 in 2018 as well?
On 1/1/19 redeemed 500,000 of bonds for 99. The 8% 5 year bonds were originally issued on 1/1/17 when the effective interest rate was 10%. Interest was recorded on 12/31/18 right before redemption.
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You can see the logs in the Dashboard.