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Jeckel, Inc. redeemed $940,000 (face value) of its 12%, 10-year bonds at 95 on July...

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Accounting

Jeckel, Inc. redeemed $940,000 (face value) of its 12%, 10-year bonds at 95 on July 1, 2017. The bonds were initially issued at 105 on January 1, 2012. Interest is paid on July 1 and January 1. The interest payment on July 1, 2017 has been made and recorded. Fiscal year-end is December 31.

For each of the independent situations, prepare the journal entry to record the retirement or conversion of the bonds and any other entry required on December 31, 2017.

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