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On January 1, Year 1 Residence Company issued bonds with a exist50,000 face value. The bonds were issued at face value. They had a 20

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On January 1, Year 1 Residence Company issued bonds with a exist50,000 face value. The bonds were issued at face value. They had a 20 year term and a stated rate of interest of 7%. Which of the following shows how the payoff of the bond liability will affect Residence's financial statements on December 31, Year 20 (the maturity date)

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