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Cheyenne, Inc. had outstanding $5,540,000of 11% bonds(interest payable on July 31 and January 31)due in...

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Accounting

Cheyenne, Inc. had outstanding $5,540,000of 11% bonds(interest payable on July 31 and January 31)due in 10 years. On July 1,it issued $8,870,000 of 10%,15year bonds (interest payable July 1 and January 1) at 99. A portion of the proceeds was used to call the 11% bonds (with unamortized discount of $55,400) at 101 August 1.

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