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On July 1, 2019, Michigan Company has bonds with balances as shown below. Bonds Payable 66 comma 00066,000 Premium on Bonds Payable 3 comma 6003,600
On July 1, 2019, Michigan Company has bonds with balances as shown below.
Bonds Payable
66 comma 00066,000 | |
Premium on Bonds Payable
3 comma 6003,600 | |
If the company retires the bonds for
$ 69 comma 150$69,150,
what will be the effect on the income statement?
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