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A firm sold a bond with the following terms. Face value $10,000; coupon rate 4%; semi-annual; 3 year maturity. The bond sold to yield an
A firm sold a bond with the following terms. Face value $10,000; coupon rate 4%; semi-annual; 3 year maturity. The bond sold to yield an effective rate of 3%. Make the journal entry required to retire the bond at its maturity date, after the final coupon payment has already been made. Be sure to put your Debit(s) above and your Credit(s) below when making the entry.
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