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On July 1, 2017, Advocate Company exercises an $4,400 call option (plus par value) on its outstanding bonds that have a carrying value of
On July 1, 2017, Advocate Company exercises an $4,400 call option (plus par value) on its outstanding bonds that have a carrying value of $228,200 and par value of $220,000. The company exercises the call option after the semiannual interest is paid on June 30, 2017. Record the entry to retire the bonds. View transaction list
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