(Answered) Exercise- bond redemptiona company issues 80000 of 10-year

Accounting

Exercise- Bond Redemption

A company issues $80,000 of 10-year bonds for $86,000. Immediately after the thirteenth semiannual interest payment, the company redeems the bonds for $83,700. The company uses the straight-line method of amortization.

Required:

Prepare the journal entry to record the bond redemption. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

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