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Prepare the entry to record the redemption of the bonds

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Reference no: EM132572362

Pharoah Corporation issued $432,000 of 10-year bonds at a discount. Prior to maturity, when the bonds' amortized cost was $421,200, the company redeemed the bonds at 97.

Question 1: Prepare the entry to record the redemption of the bonds.

Question 2: record redemption of bonds

Reference no: EM132572362

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