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QUESTION 4 Not yet answered Points out of 10.00 Rlag question Early Retirement of Bonds Norwich, Inc., issued $250,000 of 8 percent, 20-year bonds at
QUESTION 4 Not yet answered Points out of 10.00 Rlag question Early Retirement of Bonds Norwich, Inc., issued $250,000 of 8 percent, 20-year bonds at 98 on June 30, 2009. Interest is payable semiannually on December 31 and June 30. Through June 30, 2015, Norwich amortized $3,000 of the bond discount. On June 30, 2015, Norwich retired the bonds at 101 (after making the interest payment on that date). Prepare the journal entry to record the bond retirement on June 30, 2015 General Journal Date Description Debit Credit Jun.30 Bonds Payable Cash To retire bonds and record loss on bond retirement
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