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Find the entry to record the retirement of the bond would

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Question 1: On January 1 of Year 1, M&M issued a $100,000, 10%, 25-year bond for $121,350. Interest is paid annually each December 31. This bond was retired on January 1 of Year 3, just one day after the second cash interest payment was made. At that time, the outstanding value of the bond was $120,742. The total amount paid to retire this bond was $120,000. The entry to record the retirement of this bond would include a

Reference no: EM132511927

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