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Kant Corporation retires its $500,000 face value bonds at 103 on January 1, following the payment of interest. The carrying value of the bonds
Kant Corporation retires its $500,000 face value bonds at 103 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $481,250. Prepare the required journal entry to record the redemption (extinguishment) of these bonds.
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald W. Hilton
9th edition
78110912, 978-0078110917
