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A company retired $66 million of its 7% bonds at 105 ($69.3 million) before their scheduled maturity. At the time, the bonds had a remaining

A company retired $66 million of its 7% bonds at 105 ($69.3 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $3 million.

Prepare the journal entry to record the redemption of the bonds.

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