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Several years ago, Tamika Company issued bonds with a face value of $603,000 at par. As a result of declining interest rates, the company has

Several years ago, Tamika Company issued bonds with a face value of $603,000 at par. As a result of declining interest rates, the company has decided to call the bond at a call premium of 7 percent over par.

Required:

Record the retirement of the bonds.

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