ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 260

Prepare Teton’s December 31, 2014, adjusting entry. (Round
answers to 0 decimal places, e.g. 38,548. If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically indented when
amount is entered. Do not indent manually.)

2)
On January 1, 2014, Henderson Corporation redeemed
$572,100 of bonds at 97. At the time of redemption, the
unamortized premium was $17,163 and unamortized bond issue
costs were $5,721.

Prepare the corporation’s journal entry to record the
reacquisition of the bonds. (If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. Credit
account titles are automatically indented when amount is
entered. Do not indent manually.)

3) Shlee Corporation issued a 5-year, $70,300, zero-interestbearing note to Garcia Company on January 1, 2014, and
received cash of $70,300. In addition, Shlee agreed to sell
merchandise to Garcia at an amount less than regular selling