Question: Present entries to record the selected transactions described below: Required: (a) Issued $2,750,000 of 10-year, 8% bonds at 97.* (b) Amortized bond discount for a

Present entries to record the selected transactions described below: Required: (a) Issued $2,750,000 of 10-year, 8% bonds at 97.* (b) Amortized bond discount for a full year, using the straight-line method.* (c) At the end of the third year, called bonds at 98. The bonds were carried at $2,692,250 at the time of the redemption.*

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