We appreciate your visit to Bonds Payable has a balance of 1 196 000 and Discount on Bonds Payable has a balance of 11 960 If the issuing corporation redeems. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
$17,940 gain.
Step-by-step explanation:
The corportation redeems the bond at 97.5.
100 - 97.5 = 2.5%
1,196,000 * 2.5% = 29,900.
29,900 - 11,960 = 17,940
$17,940 gain at redemption.
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