On March 21, 2017, the bond accounts of Pugh Sales showed the following balances
Pugh Sales retires the bonds for $66,150. Prepare the journal entry to record the retirement of the bonds.
What will be an ideal response
Bonds Payable 65,000
Loss on Retirement of Bonds Payable 4,400
Discount on Retirement on Bonds 3,250
Cash 66,150
Business
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