Question: Question 14 (4 points) ACME Inc. redeemed $150,000 face value, 12% bonds on July 31 at 102. The bond's amortized cost at the redemption

Question 14 (4 points) ACME Inc. redeemed $150,000 face value, 12% bonds

Question 14 (4 points) ACME Inc. redeemed $150,000 face value, 12% bonds on July 31 at 102. The bond's amortized cost at the redemption was $127,500. Required: Prepare the journal entry to record the redemption of the bonds assuming the interest for the period has already been paid. Paragraph GENERAL JOURNAL DATE ACCOUNT TITLES +v DEBIT CREDIT

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