### Journal entry to record the retirement

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##### Reference no: EM13155301

The balance sheet for marin co include 7.5% bonds payable due december 31, 2018 for \$1,600,000. Unamortized discount on bonds payable for \$64,000. The bonds were issued on dec 31, 2008 at 95 with interest payable on june 30 and december 31( straight line). On january 1 2011 marin retire \$640,000 of these bonds at 101. what are the journal entry to record the retirement?

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