Homework Answers
4 A) loss on retirement of$4750
Loss = 71,150-3600-70,000
=$ 4750
5)
1) bond payable 70,000
To bond holders A/c 70,000
2) bond holders. 3600
To discount on bond payable. 3600
3) bond holders. 66,400
Profit and loss.(loss) 47,50
To cash 71,150
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