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Make payment of interest and redemption of the bonds

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Question 1: April 1st, 2019, Candy Corp issued $1,400,000, 5%, 10 year bonds at face value. The bonds were dated April 1st 2019 and paid interest annually on April 1st. Financial Statements are prepared annually on December 31st. Assume that on January 1st 2021, Candy pays the accrued bond interest and calls the bonds. The call price is 208. Record the payment of interest and redemption of the bonds.

Reference no: EM132532875

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