Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bonds have a carrying value of $990,000. We call these bonds prior to maturity on September 30. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.

Answer and Explanation:

The journal entry is shown below;

Bond payable $1,000,000

Loss on retirement of bond $20,000

           To Discount on bond $10,000

           To Cash $1,010,000

(Being the loss on retirement of bond is recorded)

For recording this we debited the bond payable and loss as it decrease the current liabilities and it increased the losses at the same time it decreased the discount and decreased the cash so the respective accounts are credited

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.