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The Sipowicz Company retired $300,000 face value, 12% bonds on June 30, 2020, at 104. The carrying value of the bonds at the redemption
The Sipowicz Company retired $300,000 face value, 12% bonds on June 30, 2020, at 104. The carrying value of the bonds at the redemption date was $304,000. The bonds pay annual interest, and the interest payment due on June 30, 2020, has been made and recorded. Prepare the appropriate journal entry for the redemption of the bonds.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th edition
1118096894, 978-1-11921511, 978-1118096895
