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On July 1, 2019, Cage Company exercises a $5,000 call option (plus par value) on its outstanding bonds that have a carrying value of $495,000
On July 1, 2019, Cage Company exercises a $5,000 call option (plus par value) on its outstanding bonds that have a carrying value of $495,000 and a par value of $500,000. The company exercises the call option after the semiannual interest paid on June 30, 2019. Record the entry to retire the bonds.
Record the entry to retire the bonds.
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