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Robin Corporation retires its E800,000 face value bonds at 104 on January 1 , following the payment of annual interest. The carrying value of the
Robin Corporation retires its E800,000 face value bonds at 104 on January 1 , following the payment of annual interest. The carrying value of the bonds at the redemption date is 829,960. The entry to record the redemption will include a debit of 2,040 to Loss on Bond Redemption. credit of 2,040 to Loss on Bond Redemption. debit of 32,000 to Premium on Bonds Payable. credit of 32,040 to Premium on Bonds Payable
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