1. Swifty Corporation redeemed $132,200 face value, 11% bonds on June 30, 2020, at 107. The carrying value of the bonds at the redemption date was $119,200. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded.
2. Crane Company redeemed $145,000 face value, 18% bonds on June 30, 2020, at 94. The carrying value of the bonds at the redemption date was $148,000. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded.
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