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On July 1, Aloha Co. exercises a call option that requires Aloha to pay $224,400 for its outstanding bonds that have a carrying value of

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On July 1, Aloha Co. exercises a call option that requires Aloha to pay $224,400 for 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 the day before on June 30. Record the entry to retire the bonds. points View transaction list 8 02:23:20 Journal entry worksheet Record the retirement of bonds before maturity. Note: Enter debits before credits. General Journal Debit Credit Date July 01 Record entry Clear entry View general journal

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