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Business, 22.02.2020 03:21 dbhuggybearow6jng

Three years ago American Insulation Corporation issued 10 percent, $930,000, 10-year bonds for $835,000. American Insulation exercised its call privilege and retired the bonds for $920,000. The corporation uses the straight-line method to determine interest.
Required:
1. Prepare the journal entry to record the call of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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