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4 August, 20:15

When a bond issued at face value is retired what is the journal entry

A. Debit bond interest expense; credit cash

B. Debit bonds payable; credit cash

C. Debit cash; credit bonds payable

D. Debit cash; credit bond interest expense

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Answers (1)
  1. 4 August, 20:39
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    Credit the "bond payable" liability account for the total face value of the bonds and debit cash for the same amount.
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