Accounting For Callable Bonds

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The speaker discusses the journal entry for the retirement of a callable bond.  This would involve a credit to bonds payable and a debit to cash in the amount at which the bond was called.  She also covers the accounting implication of the discount on the bond and also the amortizatiThe speaker discusses the journal entry for the retirement of a callable bond.  This would involve a credit to bonds payable and a debit to cash in the amount at which the bond was called.  She also covers the accounting implication of the discount on the bond and also the amortization.  This bond suffered a loss on retirement and a debit entry was required to handle this loss.

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