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21. Because interest rates have fallen, a company retires bonds which had been issued at their face value of $340,000. The company bought the bonds
21. Because interest rates have fallen, a company retires bonds which had been issued at their face value of $340,000. The company bought the bonds back at 96.00. The journal entry to record this retirement includes a debit of. A) $326,400 to Bonds Payable, a debit to Gain on Bond Retirement of $13,600 and a credit of $340,000 to Cash B) $326,400 to Bonds Payable and a credit of $326,400 to Cash. C) $340,000 to Bonds Payable, a credit of $13,600 to Interest Expense, and a credit of $326,400 to Cash D) $340,000 to Bonds Payable, a credit of $13.600 to Gain on Bond Retirement, and a credit of C0610
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