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Redemption of Bonds Payable A $1,000,000 bond issue on which there is an unamortized premium of $78,000 is redeemed for $756,000. Journalize the redemption

Redemption of Bonds Payable A $1,000,000 bond issue on which there is an unamortized premium of $78,000 is redeemed for $756,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank.

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