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On July 1,2015 Advocate Company excercises an $8,000 call option (plus par value) on its outstanding bonds that have a carrying value of $390,000 an

On July 1,2015 Advocate Company excercises an $8,000 call option (plus par value) on its outstanding bonds that have a carrying value of $390,000 an par value of $400,000. The company excercises the call option after the semiannual interest is paid on June 30, 2015. Record the entry to retire the Bonds.

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