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Coronado Industries retires its $420000 face value bonds at 105 on January 1 , following the payment of interest. The carrying value of the bonds

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Coronado Industries retires its $420000 face value bonds at 105 on January 1 , following the payment of interest. The carrying value of the bonds at the redemption date is $435729. The entry to record the redemption will include a credit of $5271 to Gain on Bond Redemption. debit of $15729 to Premium on Bonds Payable. debit of $21000 to Premium on Bonds Payable. credit of $15729 to Loss on Bond Redemption

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