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Sheffield Corp. issued $212,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $198,220, the company redeemed

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Sheffield Corp. issued $212,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $198,220, the company redeemed the bonds at 95. Prepare the entry to record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

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