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PLEASE HELP. IT IS ONE QUESTION WITH DIFFERENT REQUIREMENTS. A company retired $75 million of its 9% bonds at 102 ( $76.5 million) before their
PLEASE HELP. IT IS ONE QUESTION WITH DIFFERENT REQUIREMENTS.
A company retired $75 million of its 9% bonds at 102 ( $76.5 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $2 million. Prepare the journal entry to record the redemption of the bonds. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the redemption of the bonds. Note: Enter debits before creditsStep by Step Solution
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