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. On 1/1/21, Ehrlich Corporation redeemed $200,000 of bonds that had a carrying value of $212,500. The bonds were redeemed at 99. Prepare the journal

. On 1/1/21, Ehrlich Corporation redeemed $200,000 of bonds that had a carrying value of $212,500.

The bonds were redeemed at 99.

Prepare the journal entry to record the redemption. Show your calculations.

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