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Chrissy Company bought back all of its callable bonds before the stated maturity date. On the date of redemption, the bonds payable account had a

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Chrissy Company bought back all of its callable bonds before the stated maturity date. On the date of redemption, the bonds payable account had a balance of $1,000,000 and the discount on bonds account had a balance of $20,000. Chrissy paid $970,000 to redeem these bonds early. The entry to record the early redemption in Chrissy's books after all interests have been paid would include: Select one: a. Debit to loss on bond redemption b. Credit to premium on bonds c. Credit to gain on bond redemption O d. Debit to discount on bonds

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