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On January 1, 2015, Rex Co. issued 10-year bonds with a face value of $5,000,000 and...

On January 1, 2015, Rex Co. issued 10-year bonds with a face value of $5,000,000 and a stated interest rate of 12%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10%.

  • On December 31, 2017 $400,000 of the bonds were retired at 95. Make the journal entry to record the retirement
  • On December 31, 2017 $300,000 of the bonds were converted.  Make the journal entry to record the retirement

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ekkarill92 answered 2 years ago
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