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Several years ago Nicole Company issued bonds with a face value of $1000000 for $945000 As a result of declining interest rates


Several years ago, Nicole Company issued bonds with a face value of $1,000,000 for $945,000. As a result of declining interest rates, the company has decided to call the bond at a call premium of 5 percent over par. The bonds have a current book value of $984,000. Record the retirement of the bonds without using a discount account.

Apr 01 2020 Read more Less More

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