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Problem 14-14 (Algo) Early extinguishment of debt [LO14-5) Three years ago American Insulation Corporation issued 10%, $830,000, 10-year bonds for $785,000American Insulation exercised its call

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Problem 14-14 (Algo) Early extinguishment of debt [LO14-5) Three years ago American Insulation Corporation issued 10%, $830,000, 10-year bonds for $785,000American Insulation exercised its call privilege and retired the bonds for $820,000. The corporation uses the straight-line method to determine interest Required: Prepare the journal entry to record the call of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the call of the bonds. Note: Enter debits before credits

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