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Unformatted text preview: Net carrying amount of bond = $100,000 - $1,817.57= $98,182.43 Loss on extinguishment = $107,000 - $98,182.43 = $8,817.57 Journal entry: Bonds Payable 98,182.43 Loss on Extinguishment 8,817.57 Cash 107,000.00...
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This note was uploaded on 03/28/2012 for the course ACCTG ACC423 taught by Professor Smith during the Spring '10 term at University of Phoenix.
- Spring '10