Darien Inc. redeemed ($ 5,000) of its bonds at 102 on January 1, 2020. At this date,

Question:

Darien Inc. redeemed $\$ 5,000$ of its bonds at 102 on January 1, 2020. At this date, the unamortized discount was $\$ 690$. Prepare the journal entry on January 1, 2020, for the bond redemption. Assume Darien has a December 31 year-end and all adjusting entries were made.

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