Magic Mountain retires its 8% bonds for $124,000 before their scheduled maturity. At the time, the bonds have a face value of 122,000 and a carrying value of $114,000. Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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Magic Mountain retires its 8% bonds for $124,000 before their scheduled maturity. At the time, the b...
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