(Answered) Question - redemption of bonds issued at face value

Accounting

Question - REDEMPTION OF BONDS ISSUED AT FACE VALUE Levesque Lumber Co. issued $800,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years.

(a) Assume the bonds are redeemed at face value.

(b) Assume that $80,000 of the bonds are redeemed at 104.

Prepare journal entries to record (a), (b), and (c).

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