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Redemption of Bonds Issued at Face Value Levesque Lumber Co . issued $ 8 0 0 , 0 0 0 in bonds at face value

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Redemption of Bonds Issued at Face Value
Levesque Lumber Co. issued $800,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years.
a. Assume the bonds are redeemed at face value.
b. Assume that $80,000 of the bonds are redeemed at 104.
c. Assume that $80,000 of the bonds are redeemed at 96.
Prepare journal entries to record (a),(b), and (c). If an amount box does not require an entry, leave it blank.
\table[[,DATE,ACCOUNT TITLE,,\table[[DOC. POST.],[NO. REF.]],DEBIT,,CREDIT,],[1,a.,x-2+2,,,,,,1],[2,,Bonds Payable x,,,,,,2],[3,,,,,,,,3],[4,b.,x,,,,x,,4],[5,,Gain on Bonds Redeemed,gradx,,,,x,5],[6,,Bonds Payable x,,,,,x,6],[7,,,,,,,,7],[8,c.,x,,,,x,,8],[9,,Loss on Bonds Redeemed,gradx,,,x,,9],[10,,Bonds Payable x,,,,,x,10]]
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