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4. Several years ago, Bishop Company issued bonds with a face value of $1,000,000. It redeemed half of the bonds at 99 on January 1,
4. Several years ago, Bishop Company issued bonds with a face value of $1,000,000. It redeemed half of the bonds at 99 on January 1, 2021. At that time, the total unamortized premium on the bond issue was $30,000. a) What is the reacquisition price of the bonds redeemed? Show your calculation to receive credit. b) What is the carrying value of the bonds redeemed? Show your calculation to receive credit. c) What is the gain or loss on redemption? Show your calculation to receive credit
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