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Record the journal entries needed in an Enterprise Fund to record the following transactions. Include any adjusting entries required.

Transaction 2.

Paid the $8,000,000 into an irrevocable trust to defease in substance the previously outstanding bonds payable of the Enterprise Fund. These old bonds have a par value of $7,200,000 and an unamortized discount of $100,000. The old bonds are scheduled to mature in six years.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91969279

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