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Prepare the journal entry for the retirement of the bond

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Question - Watermark Corporation purchased $200,000 of its bonds on June 30, 2010, at 102 and immediately retired them. The carrying value of the bonds on the retirement date was $193,700. The bonds pay semiannual interest and the interest payment due on June 30, 2010, has been made and recorded. Prepare the journal entry for the retirement of the bond.

Reference no: EM132587552

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