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The balance sheet for Pharoah Consulting reports the following information on July 1,2022. Pharoah decides to redeem these bonds at 105 after paying annual interest.

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The balance sheet for Pharoah Consulting reports the following information on July 1,2022. Pharoah decides to redeem these bonds at 105 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2022. (Credit account titles are automatically indented when entered. Do not indent manually. Date Account Titles and Explanation Debit Credit July 1

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