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Bramble Corp. retires its $720000 face value bonds at 106 on January 1, following the payment of interest. The carrying value of the bonds at
Bramble Corp. retires its $720000 face value bonds at 106 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $746964. The entry to record the redemption will include a
a. debit of $43200 to Premium on bonds payable
b. credit of $26964 to loss on bond redemption
c. credit of $16236 to gain on bond redemption
d. debit of $26964 to premium on bonds payable
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