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Glasspar Fiberglass Corporation had bonds outstanding on September 1, 2017 with a face value of $3,000,000. On September 1, 2017, the bonds had an unamortized

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Glasspar Fiberglass Corporation had bonds outstanding on September 1, 2017 with a face value of $3,000,000. On September 1, 2017, the bonds had an unamortized discount balance of $140,000; Glasspar called in $600,000 of the outstanding bonds at 98 on September 1, 2017. Required: Prepare the journal entry for the bond redemption transaction described above

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