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The balance sheet for Pharoah Company reports the following information on July 1, 2017. Pharoah decides to redeem these bonds at 107 after paying annual

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The balance sheet for Pharoah Company reports the following information on July 1, 2017. Pharoah decides to redeem these bonds at 107 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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