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Write the journal entry for the bond redemption

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Question - Company XYZ has $1,600,000 face value, 10% bonds outstanding. On May 1, when the carrying value is $1,605,000, the company redeemed the bonds at 101. The bonds pay annual interest, and the interest payment due has been made and recorded. Write the journal entry for the bond redemption.

Reference no: EM132965635

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