Question: A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for $1,250,000. Journalize the redemption of the bonds?

A $1,200,000 bond issue on which there is an unamortized premium of $63,956 is redeemed for $1,250,000. Journalize the redemption of the bonds?

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