Prater Corporation issued $400,000 of 10-year bonds at a discount. Prior to maturity, when the bonds carrying

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Prater Corporation issued $400,000 of 10-year bonds at a discount. Prior to maturity, when the bonds’ carrying amount was $390,000, the company redeemed the bonds at 97. Prepare the entry to record the redemption of the bonds.

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Accounting Principles Volume 2

ISBN: 9781119786634

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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