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Exercise 14-15 Pina Company had bonds outstanding with a maturity value of $307,000. On April 30, 2017, when these bonds had an unamortized discount of
Exercise 14-15 Pina Company had bonds outstanding with a maturity value of $307,000. On April 30, 2017, when these bonds had an unamortized discount of $10,000, they were called in at 105. To pay for these bonds, Pina had issued other bonds a month earlier bearing a lower interest rate. The newly issued bonds had a life of 10 years. The new bonds were issued at 102 (face value $307,000). Ignoring interest, compute the gain or loss. Loss on redemptions Ignoring interest, record this refunding transaction. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit To record redemption of boods payable) To revendice of new bonds) Click if you would like to Show Work for this question Open Show Work
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