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Stocks and Bonds
The Kansas Company repurchased and retired $20,000 par value of 10 percent bonds that it has outstanding. The repurchase price was 98, plus accrued interest. I would like to know what accounts you would use and how to calculate the amount to debit and credit? Preferred stock $100 par, 100,000 shares authorized, Common stock $10 par, 10,000 authorized.
I would just like to know how to post this to a general journal? |
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