Question: On the day Federer Ltd redeemed its $1,000,000 face value bonds at 98, their carrying value was $1,200,000 Required: a) Prepare a residual analysis for

On the day Federer Ltd redeemed its $1,000,000 face value bonds

On the day Federer Ltd redeemed its $1,000,000 face value bonds at 98, their carrying value was $1,200,000 Required: a) Prepare a residual analysis for the bond redemption (3.5 marks) b) Prepare the journal entry for the bond redemption. (1.5 marks) c) If you recognise a gain or loss, state where in the Statement of Comprehensive Income the gain or loss should appear

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