Jyoti Inc. had outstanding $10 million of 8% bonds (interest payable March 31 and September...
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Accounting
Jyoti Inc. had outstanding $ million of bonds interest payable March and September due in years. Jyoti was able to reduce its risk rating through investing in more real estate. As a result, on September it issued $ million of year, bonds interest payable July and January at The proceeds plus additional cash was used to call the bonds at on October The unamortized bond discount for the bonds was $ million on October Jyoti prepares financial statements in accordance with IFRS.
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Prepare the necessary journal entries to record the issue of the new bonds and the retirement of the old bonds.
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