If the market interest rate drops to 6% on December 31, 2022, it will cost $310,000 to retire the bonds. Record the retirement of the bonds on December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate calculations to the nearest whole dollar amount.)
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If the market interest rate drops to 6% on December 31, 2022, it will cost $310,000 to retire the bo...
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