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Business, 30.03.2021 18:20 jforeman42

The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.75% bonds having a face amount of $90.2 million. The bonds had been issued in 2013 and had a remaining discount of $3.2 million at December 31, 2020. On January 1, 2021, Indian River Electronics called the bonds before their scheduled maturity at the call price of 101. Required:
Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2021.

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The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.75% b...
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