On July 1, 2017, Lester Shoes Ltd. exercises a $4,000 call option on its outstanding bonds, which
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On July 1, 2017, Lester Shoes Ltd. exercises a $4,000 call option on its outstanding bonds, which have a carrying value of $206,000 and par value of $200,000. Lester exercises the call option immediately after the semiannual interest is paid on June 30, 2017. Record the journal entry to show the retirement of the bonds.
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Related Book For 
Fundamental Accounting Principles Volume 2
ISBN: 9781259087363
15th Canadian Edition
Authors: Kermit Larson, Heidi Dieckmann
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