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On July 1, 2017, Advocate Company exercises an $6,400 call option (plus par value) on its outstanding bonds that have a carrying value of $329,600
On July 1, 2017, Advocate Company exercises an $6,400 call option (plus par value) on its outstanding bonds that have a carrying value of $329,600 and par value of $320,000. The company exercises the call option after the semiannual interest is paid on June 30, 2017. Record the entry to retire the bonds
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