DISCUSSION QUESTIONS - Benedictine

Interest income 3,000 8% bonds payable 98,500 Loss on retirement of bonds 7,800 Investment in Spede bonds 105,000 Interest expense 4,300 To eliminate intercompany bonds and record constructive loss on retirement of bonds, and eliminate intercompany interest income and interest expense. Interest payable 4,000 Interest receivable 4,000 To ... ................
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