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On July 1, 2014, Miniature Company has bonds with balances as shown below. Bonds Payable Premium on Bonds Paybale 65,0000 3,250 If the company retires

  • On July 1, 2014, Miniature Company has bonds with balances as shown below.

Bonds Payable Premium on Bonds Paybale

65,0000 3,250

  • If the company retires the bonds for $66,150, what will be the effect on the income statement?

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