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Business, 04.04.2020 02:34 jumpgirll

Crane Company retires its $560000 face value bonds at 105 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $580972. The entry to record the redemption will include a credit of $7028 to Gain on Bond Redemption. debit of $20972 to Premium on Bonds Payable. debit of $28000 to Premium on Bonds Payable. credit of $20972 to Loss on Bond Redemption

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Crane Company retires its $560000 face value bonds at 105 on January 1, following the payment of int...
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