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The current carrying value of Jensen Corp.'s $600,000 face value bonds is $597,750. If the bonds are retired at 102, the journal entry to record
The current carrying value of Jensen Corp.'s $600,000 face value bonds is $597,750. If the bonds are retired at 102, the journal entry to record the redemption will include a:
| Credit to Cash for $612,000 |
| All of the answers are correct |
| Debit to Bonds Payable for $600,000 |
| Debit to Loss on Redemption of Bonds Payable for $14,250 |
| Credit to Discount on Bonds Payable for $2,250 |
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Auditing Business Continuity Global Best Practices
Authors: Rolf Von Roessing
1st Edition
1931332150, 978-1931332156
