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Find the entry to record the redemption will include a

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Question 1: Bramble Corp. retires its $720000 face value bonds at 103 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $693000. The entry to record the redemption will include a

Option a) debit of $21600 to Premium on Bonds Payable.

Option b) credit of $27000 to Discount on Bonds Payable.

Option c) credit of $27000 to Loss on Bond Redemption.

Option d) debit of $48600 to Gain on Bond Redemption.

Reference no: EM132568593

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