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Create a record the retirement of the bonds

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Reference no: EM132486031

Question 1: Several years ago, Walters Company issued a $1,000,000 bond at par value. As a result of declining interest rates, the company has decided to call the bond at a call premium of 5 percent. Record the retirement of the bonds. (If no entry is required for a transaction/event, select No journal entry required in the first account field.)

Reference no: EM132486031

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