Business, 20.06.2020 18:57, jessicawolfking

The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.5% bonds having a face amount of $90.1 million. The bonds had been issued in 2013 and had a remaining discount of $3.1 million at December 31, 2020. On January 1, 2021, Indian River Electronics called the bonds before their scheduled maturity at the call price of 103. Required:
Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2016.

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The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.5% bo...