Business, 05.08.2020 02:01, shyyyy13

On January 1, 2017, Shay issues $390,000 of 8%, 20-year bonds at a price of 97.00. Six years later, on January 1, 2023, Shay retires 20% of these bonds by buying them on the open market at 104.50. All interest is accounted for and paid through December 31, 2022, the day before the purchase. The straight-line method is used to amortize any bond discount. Required:Prepare the journal entry to record the bond retirement at January 1, 2023.

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On January 1, 2017, Shay issues $390,000 of 8%, 20-year bonds at a price of 97.00. Six years later,...