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What are the journal entries to record the call of the bond

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Reference no: EM132487180

Point 1: Two years ago American Insulation Corporation issued 10%, $990,000, 8-year bonds for $865,000. American Insulation exercised its call privilege and retired the bonds for $930,000.

Point 2: The corporation uses the straight-line method to determine interest.

Question 1: What are the journal entries to record the "call of the bonds"

Reference no: EM132487180

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