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Waterway Industries retires its 3780000 face value bonds at 103 on January 1 , following the payment of interest. The carrying value of the bonds

Waterway Industries retires its 3780000 face value bonds at 103 on January 1 , following the payment of interest. The carrying value of the bonds at the redemption date is $750750. The entry to record the redemption will include a debit of $52650 to Gain on Bond Redemption credit of 329250 to Discount on Bonds Payable. detit of $23400 to Premium on Bonds Pavable. credit ef \$29250 to Loss on Bond Redemption

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