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Homework Answers
Journal entry
| Date | General Journal | Debit | Credit |
| Sep 18 | Bonds payable | 520000 | |
| Loss on bond redemption | 33280 | ||
| Discount on bonds payable (10400*14/20) | 7280 | ||
| Cash | 546000 | ||
| (To record bond redemption) | |||
| Sep 18 | Cash (880000*1.03) | 906400 | |
| Bonds payable | 880000 | ||
| Premium on bonds payable | 26400 |
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