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Novak Corp. issued $422,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $398,790, the company redeemed

Novak Corp. issued $422,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $398,790, the company redeemed the bonds at 96. Prepare the entry to record the redemption of the bonds

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