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Assume the bonds are redeemed at face value

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REDEMPTION OF BONDS ISSUED AT FACE VALUE Okano Medical Lab issued $300,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years.

(a) Assume the bonds are redeemed at face value.
(b) Assume that $25,000 of the bonds are redeemed at 103.
(c) Assume that $25,000 of the bonds are redeemed at 97.
Prepare the journal entries to record (a), (b), and (c).

Reference no: EM13341383

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