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Business, 20.04.2020 20:31 koolgurl2003

The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 11% bonds having a face amount of $91.2 million. The bonds had been issued in 2010 and had a remaining discount of $4.2 million at December 31, 2017. On January 1, 2018, Indian River Electronics called the bonds before their scheduled maturity at the call price of 102.

Required:
Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2018.

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The balance sheet of Indian River Electronics Corporation as of December 31, 2017, included 11% bond...
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