Prepare the corporation journal entry to record redemption

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On January 1, 2020, Kingbird Incorporated redeemed bonds prior to their maturity date of January 1, 2021. The face value of the bonds was $400,000, and the redemption was performed at 90. As at the redemption date, the unamortized premium was $8,000.

Problem 1: Prepare the corporation's journal entry to record the redemption of the bonds

Reference no: EM132898781

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