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A company is retiring 20-year bonds that have now reached maturity. The bonds will be retired with cash equal to their face value. What effect

A company is retiring 20-year bonds that have now reached maturity. The bonds will be retired with cash equal to their face value. What effect will the retirement of the bonds have on the accounting equation? Answer options: increase, decrease, no effect.

Assets

Liabilities

Equity

Net Income

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