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Preapare a record the retirement of the bonds

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Reference no: EM132493194

Darwin Company issued bonds with a face value of $1,000,000 at a premium. As a result of declining interest rates, the company has decided to call the bonds at a call premium of 6% over par. The unamortized premium on these bonds is $25,000.

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Question 1: 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: EM132493194

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