Justice, Inc. purchased $400,000 of its bonds at 97 on June 30, 2010, and immediately retired them.
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Justice, Inc. purchased $400,000 of its bonds at 97 on June 30, 2010, and immediately retired them. The carrying value of the bonds on the retirement date was $393,000. The bonds pay semiannual interest and the interest payment due on June 30, 2010, has been made and recorded.
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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