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The December 31, 2015, balance sheet of Ming Inc. included 12% bonds with a face amount of $100 million The bonds were issued in 2005
The December 31, 2015, balance sheet of Ming Inc. included 12% bonds with a face amount of $100 million The bonds were issued in 2005 and had a remaining discount of $3, 400, 000 at December 31, 2015. On January 1, 2016, Ming called the bonds at a price of 102. Prepare the journal entry by Ming to record the retirement of the bonds on January 1, 2016
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