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On July 1, Aloha Company exercises a call option that requires Aloha to pay $326,400 for its outstanding bonds that have a carrying value of
On July 1, Aloha Company exercises a call option that requires Aloha to pay $326,400 for its outstanding bonds that have a carrying value of $329,200 and a par value of $320,000. 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. Journal entry worksheet Record the retirement of bonds before maturity. Note: Enter debits before credits
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