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    A $500,000 bond issue on which there is an unamortized discount of $40,000 is redeemed for $475,000. Journalize the redemption of the bonds.

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    A $500,000 bond issue on which there is an unamortized discount of $40,000 is redeemed for $475,000. Journalize the redemption of the bonds.

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    Solution Preview

    Face Value of Bond $500000
    Less: Unamortized Discount 40000
    Carrying Value $460000

    The face value of Bond is $500000 and Unamortized discount at ...

    Solution Summary

    Computations and journal entry provided for you.

    $2.19

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