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QS 10-13 (Algo) Bond retirement by call option LO P4 On July 1. Aloha Company exercises a call option that requires Aloha to pay $408,000

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QS 10-13 (Algo) Bond retirement by call option LO P4 On July 1. Aloha Company exercises a call option that requires Aloha to pay $408,000 for its outstanding bonds that have a carrying value of $411,200 and a par value of $400,000. 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

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