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Business, 21.04.2020 19:27, iamcuriousdelip08rmf
Several years ago, Nicole Company issued bonds with a face value of $1,120,000 for $1,005,000. As a result of declining interest rates, the company has decided to call the bond at a call premium of 4 percent over par. The bonds have a current book value of $1,094,000. Record the retirement of the bonds, using a discount account. (lfno entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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Several years ago, Nicole Company issued bonds with a face value of $1,120,000 for $1,005,000. As a...
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