For each situation prepare the appropriate journal entry for the redemption of the bonds. (a) Martha Corporation retired $142900 face value 10% bonds on April 30 2012 at 102. The carrying value of the bonds at the redemption date was $129120.
The bonds pay annual interest and the interest payment due on April 30 2012 has been made and recorded.
(b) Williams Inc. retired $266000 face value 12.5% bonds on June 30 2012 at 97. The carrying value of the bonds at the redemption date was $287906. The
bonds pay annual interest and the interest payment due on June 30 2012 has been made and recorded